Temasek invested US$20m in Conductor, a Brazilian payments processor and card issuance provider for fintechs, bringing the company’s latest round of funding to US$170m after Viking Global Investors led a US$150m round in October 2020.
(Press Release) – Conductor, the leading card issuing and banking-as-a-service software platform in Latin America, announced today it has raised an additional $20 million from Temasek, a global investment company headquartered in Singapore. This new investment adds to Conductor’s latest round of fundraising, increasing it to a total $170 million.
Antonio Soares, CEO of Conductor, remarked, “We are thrilled to have built such a strong and unique investor base. The caliber of the investors that have joined our journey reflects the quality of our business and demonstrates that we are on the right path. We are very happy to be adding Temasek to this select group. This round enables us to continue moving firmly and aggressively towards our vision of delivering the future of digital commerce enablement and democratizing digital payments.”
Conductor has built Latin America’s largest and fastest growing full stack card issuing and acquiring platform. The company powers the leading fintechs, banks, retailers, and enterprises across the region, enabling them to launch and scale innovative digital accounts and card programs. The cloud native and open API solution spans card issuer processing, banking-as-a-service, and other digital banking services. Conductor currently powers over 85 million accounts and processes more than $20 billion in payment volume across Latin America.
The recent funding will enable Conductor to accelerate product development and international growth, and further cement its leading position in modern payment infrastructure technology. This new announcement comes on the heels of a number of milestones, including the continued momentum in the company’s flagship issuer processing business, the acceleration of its banking-as-a-service offering Dock, the acquisition of Muxi, and the launch of Conductor’s international expansion across major markets in Latin America.
Temasek joins Conductor’s original institutional investors, Riverwood Capital and Visa, Inc., alongside the new investor group led by Viking Global Investors and also joined by Advent International’s affiliate, Sunley House Capital.
About Conductor
Conductor is the leading card issuing and banking-as-a-service software platform in Latin America. With its cloud native and open API platform, Conductor powers the leading fintechs, banks, retailers, and enterprises across the region, enabling them to launch and scale innovative digital accounts and card programs. Conductor currently powers over 85 million accounts and processes over $20 billion in payment volume across Latin America. For more information on Conductor, please visit www.conductor.com.br
About Temasek
Temasek is an investment company with a net portfolio value of S$306 billion ($214 billion) as at 31 March 2020. Our three roles as an Investor, Institution and Steward, as defined in our Temasek Charter, shape our ethos to do well, do right and do good. Our investment philosophy is anchored around four key themes: Transforming Economies; Growing Middle Income Populations; Deepening Comparative Advantages; and Emerging Champions. Our investment direction in Temasek is shaped by structural trends: longer lifespans, rising affluence and sustainable living drive social progress, enabled by technological solutions for sharing economies, smarter systems and a more connected world. We actively seek sustainable solutions to address present and future challenges, as we capture investment and other opportunities that help to bring about a better, smarter and more sustainable world. For more information on Temasek, please visit www.temasek.com.sg
