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Colombian Payment Infra Startup Simetrik Lands $20M Series A At A $100M+ Valuation

Mar 24, 2022•over 3 years ago

Amount Raised

$20 Million

Round Type

series a

Financial ServicesSoftware

Description

Infrastructure startups continue to attract venture dollars across the globe, especially in the case of payments infrastructure providers. No-code too also remains a draw. A startup that is a blend of the two can be found in Bogota, Colombia-based Simetrik, which just raised $20 million in a Series A funding round at a valuation “north of $100 million.”

Company Information

Company

Simetrik

About

A startup that is a blend of the two can be found in Bogota, Colombia-based Simetrik, which just raised $20 million in a Series A funding round at a valuation “north of $100 million.”The startup says its infrastructure “delivers greater control and transparency” over a company’s financial transactions by automating reconciliation through a no-code offering. In the past two years since it launched, the startup says it has reconciled $75 billion of TPV (total portfolio value) per year. In total since inception, the company has raised $29.3 million in equity and debt.Carlos Alonso Torras, principal at FinTech Collective and the firm’s head of emerging markets, said his firm was drawn to the team’s “focus and tenacity.”“The reconciliation technology already deployed by the company powerfully complements its vision of building a payment orchestration platform. The company says it will use its new capital in part toward hiring.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech