Matera, a leading banking software provider, has announced a $100m investment from Warburg Pincus, a prominent global growth investor.
The funding will support Matera’s expansion into the North American market and further product development.
Founded in Brazil, Matera offers core banking, instant payment, and QR code payment solutions to financial institutions. The company boasts over 30 years of experience and serves more than 250 banks, credit unions, and financial institutions worldwide, including two of the top three banks globally and over one-third of all banks in Brazil.
The new funding will be utilised to enhance Matera’s presence in North America, leveraging its flagship product, Digital Twin. This high-performance ledger works with existing core banking platforms, addressing core banking modernisation and real-time digital user experiences. Matera also provides QR code payment solutions, enabling billers and merchants to present QR codes for mobile payments.
Matera has seen significant growth, expanding fourfold since 2020 and achieving $77m in revenue for 2023 while maintaining strong profitability. The company’s real-time payment solutions in Brazil, especially its involvement with the PIX system, highlight its innovation in the payments infrastructure sector.
Carlos Netto, Co-Founder & CEO of Matera, said, “PIX set the standard for the digital finance revolution. At Matera, we know first-hand the pressure for banks to modernize their infrastructure to keep up with innovative new payment methods such as instant payments and pay-by-bank.
“We’re honored to leverage our PIX expertise with proven solutions to help financial institutions across North America keep pace with their customers’ digital demands.”
Henrique Muramoto, Managing Director at Warburg Pincus, commented, “We have been closely tracking Matera as PIX emerged in Brazil and have seen first-hand their ability to innovate and deliver world-class, mission-critical software that is both scalable and consistent.
“We now look forward to expanding this expertise into North America where we see immense opportunity for Digital Twin to help banks seamlessly modernize their core systems.”
Warburg Pincus has a strong track record in investing in enterprise technology and cloud-based platforms, with over $33bn invested in technology companies and over $16bn in financial services companies.
Bank of America and Freitas Leite served as advisors to Matera in this transaction.
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