Miami — CloudWalk, a Brazilian fintech, today announced the close of a $150 million Series C round of funding. The company, which is based in São Paulo, offers payment processing to about 150,000 merchants across 4,300 cities in Brazil.
The company, which offers both hardware and software, distinguishes itself from other companies in the space by offering cashback in Brazilian Digital Reals (BDR), a crypto currency. The company said that BDR is accepted by all of its clients.
CloudWalk launched in 2019, and their first product was called InfinitePay, the company’s main payment processing platform. It also acquired Confere, which offers cash flow reconciliation and financial data aggregation software. As of today, CloudWalk offers online payment, in-person payment, and a free online store platform.
The company has grown by 5000% in the last 24 months, the company said in a statement. It’s GMV (Gross Merchandise Value) is $2.4 billion.
CloudWalk plans to use the money from this round to grow the business though they did not say how. It currently has 323 employees.
This round was led by Coatue Management, with the participation from DST Global, A-Star, The Hive Brazil, Plug and Play Ventures, and Valor Capital Group, among others.