Brazil-headquartered financial technology firm CloudWalk announced on Wednesday that it has reached a US$2.15 billion valuation following its recent financing round led by Coatue, an investment firm that prioritizes innovative firms in the technology, media, and telecommunications space.
The Latin American fintech industry has properly leveraged the internet boom and transition to online shopping brought about by the effects of the COVID-19 health crisis.
CloudWalk, whose platform integrates blockchain and artificial intelligence, announced that the US$150 million round drew commitments from investment firms DST Global, A-Star, The Hive Brazil, Plug and Play Ventures as well as Valor Capital Group.
This latest capital injection bring the firm’s total funding raised so far to US$365 million.
Gokul Rajaram, an angel investor who sits on the boards of Coinbase Global Inc and Pinterest Inc, and footballers Larry Fitzgerald and Kelvin Beachum also made commitments in the round.
CloudWalk has indicated that the new funds will be used to invest in product development, as well as to increase the firm’s headcount. The firm also hopes to use a part of the funds to sponsor its plans to expand into new international markets, especially its plans to launch the platform in the United States and Europe within the next two years.
“As the global payments market rapidly evolves, we believe that blockchain will soon become the dominant source for all future payment processes,” said Luis Silva, founder, and chief executive officer.
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