Since launching in 2013, Brazil’s CloudWalk has established a cutting-edge payment network, built from the ground up on modern technology stacks and blockchain. It has steadily focused on disrupting the payment ecosystem for small- and medium-sized enterprise merchants and their customers to become one of the most successful fintechs in Brazil to date. Recently, CloudWalk has caught the eye of astute investors, leading to what has become the largest ever Series B financing round for a Brazil-based company.
The payment technology network has operated under a simple but challenging mission to “create the best payment network worldwide.” Under this vision, CloudWalk has democratized the payments industry in Brazil by empowering entrepreneurs through technological and inclusive solutions that outsmart the system by building a fairer one for all players involved. The timing couldn’t be better as the payments industry rapidly evolves in the region. The company’s platform provides consumers with exceptional offerings at industry-lowest merchant fees in order to keep true to its promise and remain competitive. It offers four key products: InfinitePay, Payment Link, Confere, and Digital Wallet.
Today, CloudWalk has processed over $1 billion in annual transactions, serving over 70,000 merchants in Brazil throughout 3,300 cities and towns. The company’s total reach is 4.6 million consumers. It is no surprise that investors were hot on its heels. Leading the investment was Coatue, who was joined by DST Global, FIS, The Hive Brazil, and Valor Capital. The round raised $190 million, bringing the company’s total investments raised to $206 million to date.
Speaking on the investment, Luis Silva, CloudWalk’s Founder & CEO, said, “This commitment from a variety of investors, recognizes CloudWalk’s strong momentum since its inception, and will be used to accelerate the Company’s domestic presence in Brazil. The vision of creating a global payment network is what drives us – today’s announcement represents but the first step in our ability to achieve our mission.”
It was shared that the funding will be used to facilitate growth, drive scale, and accelerate the company’s domestic presence in Brazil. CloudWalk is also said to be developing a “self-driving bank,” an entity that will provide its existing services (store money, give credit, authorize and settle payment transactions, etc.) without human involvement thanks to AI agents in a decentralized protocol.