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Brazilian FinTech Celcoin raises $125m investment led by Summit Partners

By Gloria Mathias

June 19, 2024

  • BaaS
  • Banking
  • Banking as a Services

Celcoin, Financial technology, Financial solutions, USA, Summit partners, fintech USA, Fintech news, Celcoin, a company in the Banking as a Service (BaaS) financial technology market, has announced a $125 million investment led by global growth equity investor Summit Partners.

The new funding will support Celcoin’s expansion plans and commitment to offering financial access for Brazilian consumers as the company works to continue delivering new and innovative products to strengthen its position in the BaaS and embedded finance market.

Summit has a long history of partnering with FinTech companies, including EngageSmart, Corpay and Calypso Technology. Existing investor Innova Capital is also participating in the round, along with experienced financial technology executive John Coughlin, a former senior executive with Corpay.

Founded in 2016, Celcoin provides financial infrastructure services and solutions for banks, FinTechs, and enterprise companies. Focused on three key verticals: payments, banking, and lending, Celcoin’s offerings are designed to enable personalized embedded finance solutions for companies across any segment and stage of development. Celcoin combines technology, product innovation, and security to support customers in building financial offerings that serve the needs of their end-consumers.

Brazilian financial technology is among the most advanced in the world. In recent years, the Central Bank of Brazil has introduced groundbreaking innovations, including the instant payment system Pix, which was launched in October 2020.

“Celcoin’s technology allows banks, FinTechs and non-financial companies to introduce their financial products and embed financial services directly into their ecosystems. We see this as the future of the financial sector, and we are excited to be part of this transformation,” said Celcoin CEO, Marcelo França. “With this funding, we plan to accelerate our investments in technology and innovation as well as evaluate both organic and M&A-driven growth opportunities.”

“It is truly a privilege to partner with the impressive team at Celcoin during this phase of exciting innovation and expansion,” said John Coughlin, an Executive-in-Residence at Summit Partners who will join the Celcoin Board of Directors. “We have been impressed by the scalability of their platform and speed of new product innovation. We look forward to supporting Celcoin as the company continues to expand in Brazil and throughout Latin America.”

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