YellowPepper, a US-based mobile payments platform, has raised $12.5m in its series D round from a syndicate including credit card provider Visa and unnamed, existing investors.
Founded in 2004, YellowPepper has developed a fintech platform that integrates with banks to offer cashless payments, mobile banking apps and remittance.
The funding will be used to expand its digital finance platform, which already provides 480 million digital transactions annually for more than 60 clients in six countries in Latin America.
YellowPepper previously raised $34m, according to TechCrunch.
The company raised $19m in a series C round led by LIV Capital in 2015, with participation from Mexico Ventures, Fondo de Fondos and International Finance Corporation (IFC), the private sector arm of multilateral financial institution World Bank as well as existing, unnamed backers.
Latin Idea Ventures previously led a $15m funding round in 2013 that included IFC, the latter having also led a $5m round in 2010.
Eduardo Coello, regional president for Visa Latin America and the Caribbean, said: “YellowPepper has revolutionised the digital payment process for companies and consumers in Latin America.
“Through our investment in YellowPepper, we want to bring the best of Visa’s technology and capabilities to a broader set of partners and clients across the region.
“YellowPepper’s extensive experience in the region and the strength of their existing client base makes them an ideal partner to build the future of payments.”