Brazilian Payments Firm “Conductor” Raises US$150 Million, Eyes U.S. Listing: CEO

Much of Latin America’s population does not have a bank account, creating opportunities for non-traditional finance firms, CEO Soares said. Around one-third of Brazilians do not have a bank account, one of the highest ratios in the world.

RIO DE JANEIRO, BRAZIL - Brazilian payments firm Conductor has raised US$150 (R$855) million in a private funding round to expand its business in Latin America ahead of a possible stock market listing in the United States, Chief Executive Antonio Soares told Reuters.

The fundraising underscores the expectation that financial technology (fintech) companies can grow as more individuals in the region access the banking system.

Backed by investment firm Riverwood Capital and payments processor Visa Inc VN, Conductor provides payments services and software to companies including fintech businesses and retailers. It has 30 million active users and processes 1 . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?