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Colombian Digital Payments Fintech Simetrik Raises US$24M

The company now wants to consolidate its services in Latin America and take its strategy to Europe, the Middle East and the Asia-Pacific region.

Don't worry, we speak : Español (Spanish), too!

Simetrik has raised a Series A financing round of US$24 million almost three years after the company was launched. FinTech Collective led this round, with Tiger Global and monashees also participating.

With this capital, the company seeks to accelerate key hires, consolidate its operations in Latin America and boost its expansion strategy to Europe, the Middle East, Africa and the Asia-Pacific region.

Simetrik’s total funding after this round adds up to US$31.2 million, according to Crunchbase.

The company has become a key player in the digital payments era by offering payment infrastructure.

“As the landscape of payment methods becomes increasingly saturated and complex – from the proliferation of BNPLs, issuers, wallets, loyalty programs to crypto-wallets and cash networks – payment orchestrators like Simetrik will be key to the movement of money and data records,” Santiago Gomez, co-founder and COO, said in a statement.

Simetrik provides infrastructure for companies to have greater control and transparency over their financial transactions. They do this mostly by automating reconciliation through a codeless solution.

The company, founded in 2019 by Alejandro Casas and Santiago Gómez, has reconciled US$75,000 of POS per year in 22 countries. In addition, its clients include Mercado Pago, NuBank, Rappi Bank, Bancolombia, Addi, DLocal, Clara, Clip and Ualá.

Simetrik’s backers include Cometa, Y Combinator, FinTech Collective, Tiger Global, Monashees, Fen Ventures, Clocktower Ventures, GFC, MercadoLibre Fund, Rallycap Ventures, Amador Holdings, FJ Labs, Wayra, Simma Capital and several angel investors.

You may also be interested in: Endeavor Catalyst Seeks to Raise Its Fifth Fund So That More Unicorns Emerge

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