RecargaPay, a Brazilian mobile payments platform and wallet provider, raised $22m in Series B funding.
Backers included IFC, a member of the World Bank Group, TheVentureCity, Ventech, FundersClub, DN Capital, FJlabs, Fabrice Grinda, Martin Varsavsky and +100 angel investors through Angellist.
The company intends to use the funds to continue to grow its team and build new tech products.
Founded by Rodrigo Teijeiro, Alvaro Teijeiro, and Gustavo Victorica, RecargaPay provides a payment, wallet and anti-fraud technology platform simplifying daily transactions by focusing on seamless user experiences ranging from mobile top ups, transport cards, bill payments, gift cards, etc. Its solutions are among the top ranked financial services apps on Google Play and App Store.
The company currently has 85 employees based mainly in Sao Paulo and Rio de Janeiro, with additional offices in Buenos Aires and Miami.