The mobile payment app developer has expanded an Experian-backed round with a $10m extension, taking its total funding to approximately $110m.

Brazil-based mobile payment platform developer RecargaPay has increased a series C round backed by credit scoring service Experian to $80m with a $10m extension.

Inter-American Development Bank’s IDB Invest investment arm led the extension with a $7.5m contribution, while the remainder was provided by venture capital firms IDC Ventures and Fuel Venture Capital.

Founded in 2010, RecargaPay provides an online platform enabling users to carry out financial functions like paying bills, refilling their mobile or public transport credit and applying…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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