Existing investor FIS returned to help payment network operator CloudWalk increase its funding to $206m altogether.
CloudWalk, the Brazil-headquartered operator of a payment technology network, secured $190m yesterday in a series B round that included financial technology producer FIS.
Investment management firm Coatue led the round, which was also backed by investment firm DST Global and The Hive Brasil, a local affiliate of US-based venture studio The Hive, as well as cross-border venture capital fund Valor Capital Group.
Founded in 2013, CloudWalk has built a blockchain and artificial intelligence-equipped international payment network which helps small and medium-sized businesses process payments more effectively. It claimed the round is the largest series B yet raised by a Brazilian company.
Luis Silva, founder and chief executive of CloudWalk, said: “Our cutting-edge payment network, built from the ground up on modern technology stacks and blockchain, focuses on disrupting the payment ecosystem for small-and-medium enterprise merchants and their customers.
“This commitment from a variety of investors, recognises CloudWalk’s strong momentum since its inception, and will be used to accelerate the company’s domestic presence in Brazil. The vision of creating a global payment network is what drives us – today’s announcement represents but the first step in our ability to achieve our mission.”
Although CloudWalk has not revealed firm details of its earlier funding, it said it has now raised $206m altogether and described FIS, The Hive Brasil and Valor Capital as existing investors. It is not to be confused with the China-based facial recognition software provider of the same name.
