Celcoin is a Brazilian financial technology company based in Sao Paulo. It received a US$125million investment.
The round was led by led by Summit Partners with existing investor Innova Capital also participating in the round, along with experienced financial technology executive John Coughlin, an Executive-in-Residence at Summit Partners, who will join the Board of Directors. Christopher J. Dean, a Managing Partner at Summit Partners and angel investor Michael Esrubilsky, will join Coughlin as members of the company’s Board.
The new funding will be used to support expansion plans, as the company continues to deliver new and innovative products in order to strengthen its leadership in the BaaS market and embedded finance.
Celcoin, founded in 2016, is led by CEO Marcelo Francoca. It provides financial infrastructure solutions and services to banks, fintechs and enterprise companies. Celcoin is focused on three key verticals: payments, banking, lending. Its offerings are tailored to provide personalized embedded finance solutions to companies of any size and stage. Celcoin, with over 400 financial customers and more than 5, 000 non-financial firms, combines technology, innovation and security to help customers build financial offerings that meet the needs of end-consumers.
The company generated US$63,000,000 in annual recurring revenues in the first quarter 2024, a 140% rise compared to the same time last year. Celcoin processes more than 200 million Pix transactions per month. The company has also completed four strategic acquisitions in the past five years, in addition to its in-house product development: Galax Pay specializing in billing, sub-acquiring and credit infrastructure, Flow Finance which provides credit infrastructure, Finansystech an Open Finance startup, and Reg+ a regtech solution that supports regulatory compliance.
FinSMEs
18/06/2024