The investment raises the company's total capital to USD 365 million and the valuation to USD 2.15 billion, confirming the startup's entry into the Brazilian unicorn club.
The Series C round was led by US venture capital manager Coatue. DST Global, The Hive Brazil, and Valor Capital Group, who were also investors in the company, followed the new round, in addition to A-Star, Plug, Play Ventures, and different angel investors.
The capital will be invested mainly in hiring talent and in the development of new products. The company's goal is to accelerate growth and begin international expansion, starting in the US and EU within two years.
The company started by providing technology to acquirers. In 2019, the fintech launched the payment processing platform InfinitePay, also starting to operate as an acquirer. In the same year, it acquired Confere, a software for reconciling cash flow and aggregating financial data.
Completing the portfolio are Payment Link, an ecommerce solution that allows merchants to sell via WhatsApp, Facebook Messenger, and other apps; the digital wallet, which connects retailers and buyers and already has a base of 300,000 users; free online store platform for all network retailers to create their virtual stores; financial reconciliation program and, the most recent launch, a cryptocurrency cashback program for end consumers. For this, CloudWalk has launched a stable coin called Brazilian Digital Real.
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