Sao Paulo-headquartered tech player CloudWalk has confirmed raising $150 million in funding as part of its Series C round as per nishantreuters. It was majorly driven by Coatue along with other participants like The Hive Brazil, A-Star, DST Global, Valor Capital Group, Plug and Play Ventures, and angel investors like Gokul Rajaram and American football star Kelvin Beachum and Larry Fitzgerald.
Brazil-based Cloudwalk 150Mseries Coatue
The financial and strategic advisor for the startup was FT (Financial Technology) Partners. The round takes its valuation to $2.15 billion while it has cumulatively raised $365 million to date.
CloudWalk has a market presence spanning 150,000 stores throughout 4,300 Brazilian cities and aims to build top-notch global payment networks. It aims at ushering in a democratization of the global payments space by offering game-changing and inclusive solutions for the empowerment of entrepreneurs and merchants alike.
CloudWalk 2019 launched its InfinitePay solution which is a flagship payments processor option for merchants. It also acquired Confere, the cutting-edge software for the reconciliation of flows and aggregation of data. CloudWalk has also launched Payment Link, a dedicated e-commerce platform enabling merchants to execute online transactions. It has also launched a consumer and merchant network called Digital Wallet and the coin called Brazilian Digital Real while offering free platforms for all members and shopper cashback options as well.
The new-generation platform at CloudWalk fuses machine learning and blockchain components throughout the processing stack, enhancing overall security, efficiency, and scalability for its payments-linked technologies. The cost savings enable the best discount rates for merchants along with superior anticipation rates as well.
This covers both installment-based payment plans and credit card-based transactions. CloudWalk has ensured superior growth exceeding 5,000% over the last two years as well while processing in excess of US$2.4 billion annually in transactions.
According to the Founder & CEO at CloudWalk, Luis Silva, this infusion of capital will help the company position itself better for building more innovative products that contribute to making life easier for its customers. With the evolution of the global market for payments, blockchain could become the predominant source for all payment procedures in the future according to Silva.
Hence, this investment is a testament of confidence in the company’s capabilities to cater to these growing and novel requirements of customers with their present product portfolio while also ensuring flexibility for spurring growth in the future, especially through using capital for hiring the best talent, taking care of product-related innovation and also driving more R&D (research and development) activities.
General Partner at Coatue, Michael Gilroy, stated that CloudWalk is one of the most innovative fintech players in the Latin American market on account of its rapid growth and its dedication toward continual innovation with a view to making digital payments simpler.
He added that partnering with them is a matter of immense pride and they look forward to helping the company maintain and expand its robust position throughout Brazil while tapping into newer opportunities for global expansion alongside. The funds will be used for scaling up future growth through better innovation and hiring the best worldwide talent.
