Simetrik, a Colombian startup that offers no-code payment infrastructure tools, has secured a $20m Series A funding round at a valuation of more than $100 million. Led by the FinTech Collective, the round will enable Simetrik to continue offering services and support to its customers.
Overview of Simetrik
Founded in 2018, Simetrik is a leading no-code payment infrastructure provider that enables businesses to easily accept payments from their customers. The platform provides a range of features such as automatic payment processing, fraud protection, user authentication, and more. The company has raised over $30 million in total funding since its launch.
Details of the Investment Round
The investment round was led by the FinTech Collective, with participation from Alta Ventures Mexico and others. The funds will be used for hiring new talent, expanding product capabilities, and further developing its customer base. Mary Ann Azevedo from FinTech Collective commented on the investment: “We are excited to partner with Simetrik as they use technology to power secure payments experiences across Latin America.”
Impact on Payment Infrastructure in Latin America
Simetrik’s success demonstrates the promise of payment infrastructure companies in Latin America. With traditional financial institutions slow to adopt modern technologies, startups like Simetrik have filled this gap by providing businesses with easy-to-use tools for accepting payments from customers quickly and securely.
This can be especially beneficial for small merchants who are looking for cost-effective ways to process payments without having to invest heavily in infrastructure or staff.
Conclusion
With its latest Series A investment round of $20 million at an impressive valuation of more than $100m, Simetrik is proving that there is huge potential for payment infrastructure companies in Latin America.
By providing businesses with easy access to secure payment processing services, the startup is helping bridge gaps between traditional financial institutions and modern technology solutions setting up firms for long-term success and growth into international markets.
