Arcus, which stylises itself as a FinTech-as-a-service platform, has collected an undisclosed investment from Citi Ventures.
The deal marks Citi Ventures’ first investment into a FinTech company based in Mexico.
Funds from the round will enable Arcus to extend its biller network, facilitate consumer payments in Latin America, and further its growth in Mexico.
Citi Ventures managing director Luis Valdich said, “Arcus is a natural first investment for Citi Ventures in Mexico given the company’s market leadership, agile and seamless platform, and potential collaboration opportunities with Citibanamex.
“We are excited to support the Arcus team’s next phase of growth across Latin America.”
Arcus empowered any business launch a FinTech platform and offer a variety of products including payment, digital wallet and financial data services. Its clients include Santander, Walmart, Marqeta and Happy Monday.
Arcus president and co-founder Inigo Rumayor said, “We are thrilled to embark on this new relationship with Citi, fuelled by an investment from Citi Ventures. Arcus is a catalyst of digital banking and a great potential partner for Citibanamex, Citi’s franchise in Mexico.
“This relationship and investment will further propel Arcus’ expansion in Latin America as we work to make it possible for everyone, everywhere to have access to exceptional financial services.”
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