Celcoin secures USD 125 million investment

In addition to Summit Partners, which has been collaborating with other fintech companies, including EngageSmart, Corpay, and Calypso Technology, existing investor Innova Capital participated in the round along with other contributors. With the newly acquired capital injection, Celcoin intends to advance its expansion plans as it continues to provide products and solutions that solidify its position in the Banking-as-a-Service (BaaS) and Embedded Finance market.

With its operations started in 2016, Celcoin delivers financial infrastructure services and solutions for banks, fintechs, and enterprise companies, with the company mainly focusing on three verticals, including payments, banking, and lending. Celcoin’s offering is developed to allow personalised Embedded Finance solutions for firms across any segment and stage of growth. Currently, the company’s services are leveraged by 400 customers in the financial sector and over 5,000 non-financial companies. In addition, Celcoin merges technology, product improvement, and security to assist customers in developing financial offerings that can meet the needs of their consumers.

According to Celcoin’s officials, the company’s technology focuses on enabling banks, fintechs, and non-financial companies to launch their financial products and integrate financial services into their ecosystems. The current funding is set to accelerate Celcoin’s investments in technology and additional capabilities, whilst evaluating both organic and M&A-enabled growth opportunities. Representatives from Summit Partners highlighted that their firm works towards identifying technology companies that can support the economic development of Brazil via the financial empowerment of consumers. The decision to invest in Celcoin can be attributed to the latter’s capabilities and aims to further assist it in advancing its commitment.

Furthermore, the funding follows a significant momentum for Celcoin, which recorded USD 63 million in annual recurring revenue in the first quarter of 2024, as per company data. The firm processes nearly 200 million Pix transactions monthly and has ongoing development of in-house products. Also, since 2022, Celcoin concluded four strategic acquisitions, including Galax Pay, providing billing and sub-acquiring solutions, Flow Finance, offering credit infrastructure, Finansystech, an Open Finance startup, and Reg+, a regtech solution that works towards supporting regulatory compliance.

Additionally, Innova Capital underlined that Celcoin offers a technological infrastructure that enables its clients to utilise advanced capabilities in the payments landscape in Brazil, including bancarisation, the emergence of instant payment methods, and BaaS. The investor plans to continue to support the Celcoin team and collaborate with Summit Partners and other shareholders.

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