Cobre raises $35m in Series B round led by Oak HC/FT

By Gloria Mathias

Cobre, a Colombia-based treasury platform, has secured $35 million in Series B funding led by Oak HC/FT. Existing investors, including Kaszek, QED and Canary, also participated in the round.

Cobre allows companies to centralise all their money movement and banking partners, accelerating domestic and cross-border payments while accessing all their bank accounts in real-time for unified financial operations management. This investment enables Cobre to accelerate expansion across its key markets and become a household name for finance teams in the region.

In a world where cash is no longer Latin Americans’ preferred way to pay, companies face the challenge of managing their finances across a fast-growing variety of digital payment options. Cobre’s approach to centralisation, delivered via in-house payment rails and direct banking integration, has created a flywheel where companies experience exponentially increasing productivity as they bring more of their payments onto the platform.

“B2B payments are on the cusp of major growth in Latin America, creating a real need for region-focused solutions that make it easier for enterprises to control the movement of their money,” said Allen Miller, Principal at Oak HC/FT. “With its novel infrastructure technology, Cobre has proven to be essential to its finance, accounting, treasury and operations customers in the region. We look forward to our partnership with the incredible Cobre team as the company continues its growth.”

Since raising its last round in October 2023, Cobre’s business has grown 6x. The growth has been driven by the synergies between its three products (Cobre Connect, Real-Time Domestic Payments and Real-Time Cross Border Payments) and its expansion to serve global companies doing business in Colombia and Mexico.

“Cobre was founded with the belief that the future of finance lies in embracing technology and simplicity. We are committed to helping businesses navigate the complexities of the modern money movement with solutions that speak their language and keep them close to the banking partners they trust. With this investment and the continued support of our partners, we’re ready to lead the charge in giving power to financial operations,” said Jose V. Gedeon, CEO at Cobre.