Conductor raises $150 mn to bolster product development & international growth

By Pavithra R

Conductor, a leading payments & banking as a service platform in Latin America has raised $150 million in funding in a round led by Viking Global Investors (its first private investment in Latin America), with additional participation from investors including Advent International’s affiliate Sunley House Capital. The new shareholders will join the company’s existing institutional investors, Riverwood Capital and Visa.

Conductor is a fastest growing full-stack card issuing and acquiring platform and powers various leading banks, FinTechs, retailers, and enterprises across the region, enabling them to launch and scale innovative digital accounts and card programs. The cloud-native and open API solution spans card issuer processing, banking-as-a-service, and other digital banking services.

“The company’s mission is to modernize and democratize the payments stack in Latin America. We have grown our business 10x in the past few years, and we are just getting started. With this injection of capital, we will accelerate our product investment to unlock the massive opportunity ahead in Brazil and across Latin America,” said Antonio Soares, CEO of Conductor.

The funding announcement comes on the heels of a number of milestones the company achieved, including the continued momentum in the company’s flagship issuer processing business, the acquisition of Muxi, the acceleration of its banking-as-a-service (BaaS) offering Dock, and the launch of Conductor’s international expansion across major markets in Latin America. The FinTech is planning to use the new investment to accelerate product development and international growth, and further cement its leading position in modern payment infrastructure technology.

“The team at Conductor has built an industry-leading fintech infrastructure platform. We are excited about the opportunity ahead for Conductor to provide the technology backbone to power fintechs, modernize banks, and enable large enterprises to launch embedded fintech solutions,” said Joaquim Lima, Partner at Riverwood Capital, Conductor’s principal investor since 2014.

Established since 1997, Brazil-based Conductor is a next-gen payments processor and banking-as-a-service infrastructure provider enabling clients from various industries to offer payment solutions to their end customers.  Conductor currently powers over 85 mn accounts and processes more than $20 bn in payment volume across LATAM.