CloudWalk surpasses $100m ARR, reaches Centaur status

By Delisha Fernandes

CloudWalk, a Brazilian FinTech which provides payment solutions for small and medium-sized businesses, posted impressive gains in product growth, revenue, and profitability in the first quarter of 2023, reaching an important milestone in its history.

With annualised revenue in March of $138 million, CloudWalk reached Centaur status, the group of companies with annual recurring revenues (ARR) exceeding $100 million.

Pre-tax profits in the first quarter of 2023 were $11 million, with net revenue reaching $30 million, representing an increase of 183% in comparison with the same period of the previous year.

The figures reflect FinTech’s solid expansion, which, in addition to the InfinitePay card machine, offers a range of financial products to over one million clients. Several new products were launched last year and are already transforming the financial services market.

Other services of the CloudWalk portfolio include InfiniteCash. This fast and agile loan modality has already granted more than $20 million to entrepreneurs throughout Brazil. InfiniteTap, an innovative solution launched in October 2022, enables credit and debit card payments to be accepted practically and efficiently.

“These innovative solutions show how technology can drive and simplify businesses in an accessible way. All the disruption we create aims to democratise the financial market and give even more strength to small and medium-sized businesses,” said Luis Silva, founder and CEO of CloudWalk.

Luis Silva said, “We are building the foundation of the largest FinTech company on planet Earth. Our dream is big, and the first results prove it. We will continue to develop innovative products that solve customers’ pains. In addition to delivering value to investors, we have, as one of our purposes, to boost the national entrepreneurial ecosystem”.