Geopagos, the payment acceptance infrastructure with the most comprehensive omnichannel offering in Latin America, today announced it has raised a $35 million growth funding round led by Riverwood Capital, a global investor in high-growth technology companies, with participation from Endeavor Catalyst. The round represents the company’s first major institutional funding and will facilitate the acceleration of the Company’s expansion plan throughout Latin America while increasing investments into its technology infrastructure.
Geopagos provides infrastructure as a service, offering a complete end-to-end digital solution for clients, including large and sophisticated financial institutions, fintechs, retailers, and software companies, among others, that want to launch or scale their payment acceptance business in the region. With a presence in 15 countries across Latin America, Geopagos’ infrastructure processes more than 150 million transactions and over USD 5 billion in TPV annually. Selected clients include Santander, BBVA , Itaú Fiserv, BAC Credomatic, Niubiz, Banco Estado from Chile, among others.
Sebastián Núñez Castro, CEO and Co-Founder of Geopagos, said: “Our vision since our foundation in 2013 has been to make payments acceptance easier and more accessible, helping our clients launch successful and innovative payment products via a robust and comprehensive solution that can deliver a superior consumer experience, improve engagement and generate customer loyalty. Over the years we have built an established and profitable business at scale, and this is an opportune time to accelerate our investments, expanding throughout Latin America and consolidating our technology leadership by investing more in R&D. We are excited to continue this journey with Riverwood who has a 15-year track-record supporting top growth technology companies in their respective sectors globally, a leading regional presence and reputation in Latin America, and is extremely selective with their investment destinations making them the perfect partner for the next phase of our journey”.
“Latin America is a significantly underpenetrated card market and Geopagos is well positioned as the software enabler and infrastructure provider empowering payment card acceptance and digital payments across the entire region,” said Francisco Álvarez-Demalde, Co-Founder and Managing Partner, Riverwood Capital. “We are excited to partner with this extraordinary team as they invest heavily to bring more disruptive and reliable payment infrastructure solutions to Latin America and consolidate the use of digital payments at a critical moment of change for the region as more companies actively enter acquiring and embed payments in their offering”.
The funds will be used to accelerate product development, including further investments behind Geopagos’ omnichannel offering, new forms of acceptance, and opening up its API platform to enable software companies and fintechs to accelerate time to market.
Geopagos was founded by Sebastián Núñez Castro, Julián Lisenberg, Fernando Tauscher, Raúl Oyarzun, and Damián Harburguer. As part of this investment, Riverwood’s Alex Porto joined the Board of Geopagos.