Singaporean state-owned investment firm Temasek added $20m to the latest round for Conductor, the Brazil-headquartered banking software producer backed by payment services firm Visa, on Wednesday, pushing it to $170m.
Hedge fund manager Viking Global Investors led the $150m first close last month, investing with private equity firm Advent International’s Sunley House Capital Management affiliate.
The company also identified Visa and private equity firm Riverwood Capital as investors last month without confirming their participation in its latest round.
Conductor has created a software platform that lets businesses offer financial services to their customers, issuing payment cards or setting up digital banking accounts. The funding has been earmarked for geographic growth and product development.
Visa had supplied an undisclosed amount for Conductor in late 2018, four years after Riverwood Capital first invested in the company.
Antonio Soares, Conductor’s chief executive, said: “We are thrilled to have built such a strong and unique investor base. The calibre 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 democratising digital payments.”
