Zoop, a Brazilian B2B FinTech services provider, has secured BRL $60m ($10.9m) in a funding round to support the rollout of new services.
The investment was led by Latin America-based investment firm Movile, which marks its third investment into Zoop.
With this fresh equity burst, the company plans to accelerate the growth of its platform through the launch of new digital payments, banking and credit tools for customers.
Zoop offers companies with a range of technology services to create their own branded financial services, which hold up to regulatory standards.
The company claims to have grown by 140% in total payment volume compared to 2019 and has also added over 40 new partners during the pandemic.
Supporting this growth has been number of new product launches from Zoop this year, including a banking-as-a-service solution that offers payment and credit services.
Movile CEO Patrick Hruby said, “There is an immense opportunity in the years ahead to improve financial services and enable broader access for businesses of all sizes and we want to ensure we are at the forefront of the transformation.
“In particular, there is massive growth potential to serve the needs of small and medium-sized companies. This additional investment will further strengthen and expand the services offered by Zoop, enabling its partners to offer more complete and integrated financial services.”
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