Brazil’s Matera lands $100m investment from Warburg Pincus
Brazil and US-based paytech Matera has bagged a $100 million investment from Warburg Pincus, a private equity firm headquartered in New York.
Matera secures $100 million from Warburg Pincus
The investment, which TechCrunch reports will give Warburg Pincus a minority stake in the Brazilian firm, has been earmarked to finance Matera’s expansion into the North American market and enhance its product development.
Matera’s continued drive into the region, bolstered by its Philadelphia headquarters, has so far been fuelled through its primary offering, a Digital Twin ledger designed to integrate with a bank’s current core platforms. The solution aims to enable real-time digital user experiences, “despite an inflexible legacy infrastructure”, and address core banking modernisation challenges.
Founded in 1987 in Brazil, Matera provides financial institutions with a range of instant payment, core banking and QR code payment services. Last year, it acquired Brazilian AI firm Cinnecta for an undisclosed sum, a move which integrated AI capabilities to its instant payments offerings.
Henrique Muramoto, MD at Warburg Pincus, highlights that the investment firm has “been closely tracking Matera as PIX emerged in Brazil”. He emphasises the “immense opportunity for Digital Twin to help [North American] banks seamlessly modernise their core systems”.
Warburg Pincus focuses its capital on technology and cloud-based platforms, claiming to have invested over $33 billion in tech enterprises and more than $16 billion in financial services firms since its inception in 1966.
