Conductor, a Sao Paulo, Brazil-based card issuing and banking-as-a-service software platform, raised $150m in funding.
The round was led by Viking Global Investors, with additional participation from investors including Advent International’s affiliate Sunley House Capital. The new shareholders join the company’s existing institutional investors, Riverwood Capital and Visa, Inc.
The company intends to use the funds to continue to expand operations and its business reach in Brazil and across Latin America and to accelerate product development
Led by Antonio Soares, CEO, Conductor provides a card issuing and acquiring platform which powers fintechs, banks, retailers, and enterprises across the region, enabling them to launch and scale innovative digital accounts and card programs. The cloud native and open API solution spans card issuer processing, banking-as-a-service, and other digital banking services. The company currently powers over 85 million accounts and processes more than $20 billion in payment volume across Latin America.
The announcement follows a number of milestones, including the acquisition of Muxi.