Brazilian payment technology firm CloudWalk has raised $190m from a Series B funding round.
The funding round was led by Coatue. Following the round, Coatue general partner Michael Gilroy will join CloudWalk’s board of directors.
Also taking part in the round were DST Global as well as existing investors such as The Hive Brazil, Valor Capital and FIS.
CloudWalk is a Sao-Paulo-based FinTech startup that specialises in innovative payment services. The firm claims it is democratising the payments industry in Brazil, by empowering entrepreneurs through technological, inclusive and life-changing solutions.
CloudWalk serves 70,000 merchants in Brazil across 3,300 cities and towns and has reached over 4.6 million consumers. The business currently markets four products – InfintePay, Payment Link, Digital Wallet and Confere.
Following this recent funding round, CloudWalk has raised a total of $206m in funding since its inception in 2013.
The company claims it intends to use the funds to further drive scale and accelerate its domestic presence in Brazil.
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