Simetrik, a payments infrastructure provider building a global payment orchestration platform, announced a $24 million Series A funding round. The round was led by FinTech Collective, and included participation from Tiger Global and Moore Capital, among others, along with existing funders like Cometa and Monashees. It also included numerous angel investors, including (but not limited to) CEO of Addi Santiago Suarez and Head of Corporate Strategy and Development at Plaid, Jason Pate. The latest funding round will allow the YC backed startup to accelerate key hires, consolidate its market leadership across LatAm and catapult its expansion strategy into EMEA and APAC.
Founded in 2019 by Alejandro Casas and Santiago Gomez, Simetrik’s infrastructure delivers greater control and transparency over a company’s financial transactions by automating reconciliation through a no code solution. Simetrik has seen rapid adoption of its services in the 24 months since it launched, reconciling $75 Bn of TPV per year in over 22 countries and serving well-known names across the industry including Mercado Pago, NuBank, Rappi Bank, Bancolombia, Addi, DLocal, Clara, Clip, and Ualá.
"As the payment methods landscape becomes increasingly saturated and complex - from the proliferation of BNPL, issuers, wallets, loyalty programs to crypto-wallets and cash networks- payment orchestrators like Simetrik will be key for money movement and data ledgers" said Santiago Gomez, Co-founder & COO.
“The experience of working closely with payment and fintech companies made us realize that there are still many obstacles for companies that use many different types of payment methods to satisfy increasing demand. We’re seeing rapid growth in the payment methods space at a global level, with new companies coming onto the market everyday,” said Alejandro Casas, Co-founder & CEO.
The company already has a strong solution-oriented reputation both internally and with their customers. "Everything flows much better between our ERP and Simetrik, the tools work well together: the teams now spend most of their time analyzing deviations and working on remediations and recoveries, which is what they should be doing," says Pedro Ant, CFO of Mercado Libre.
“From the beginning, we were impressed by the focus and tenacity of the entire Simetrik team. Their ability to recruit is extraordinary, and we believe that the powerful backing received in this round will help them to scale aggressively over the next few years,” said Carlos Alonso Torras, Principal at FinTech Collective and Head of Emerging Markets, who will be joining Simetrik’s board.
Cometa, the company’s main seed investor and incoming board member said: “Simetrik is revolutionizing the way Latin America’s super apps, top banks, and retailers reconcile bank statement transactions and add payments to company ledgers. Simetrik is in a great position to fully optimize the money movement lifecycle for the most data-rich enterprises in the region, and potentially the rest of the world.”
With a fully remote and tech-focused culture, Simetrik has over 100 open positions and is attracting the best talent in the region. Important funds such as Fen Ventures, Clocktower Ventures, GFC, MercadoLibre Fund, Rallycap Ventures, Amador Holdings, FJ Labs, Wayra, Simma Capital, as well as the main shareholders of Banco Base also participated in the investment round.
About Simetrik:
Simetrik is a payments infrastructure provider and global platform orchestrator that enables companies to easily automate all their reconciliation processes through a no code solution, delivering greater control, flexibility and transparency to finance teams. The company is reconciling $75 Bn of TPV per year in over 22 countries and serving well-known names across the industry including Mercado Pago, Rappi Bank, NuBank, Bancolombia, Addi, DLocal, Clara, Clip, and Ualá. Learn more at: https://simetrik.com/.
About FTC:
FinTech Collective is a global venture capital firm backing entrepreneurs who are re-imagining the way money moves through the world. Founded in 2012 and based in New York City, the firm has deep experience investing across capital markets, wealth management, banking, lending, payments, insurance, and DeFi. The managing partners of FinTech Collective are serial entrepreneurs and operators, having built, scaled and successfully exited four global fintech businesses.
Backed by some of the world’s leading institutional investors, FinTech Collective manages over $750m in regulatory assets and has invested in 70 portfolio companies.
We publish a weekly newsletter, delivered every Saturday and provide a tightly edited rundown of global fintech news, along with a bit of our original analysis (available at fintech.io/newsletter).
Simetrik, a payments infrastructure provider building a global payment orchestration platform, announced a $24 million Series A funding round. The round was led by FinTech Collective, and included participation from Tiger Global and Moore Capital, among others, along with existing funders like Cometa and Monashees. It also included numerous angel investors, including (but not limited to) CEO of Addi Santiago Suarez and Head of Corporate Strategy and Development at Plaid, Jason Pate. The latest funding round will allow the YC backed startup to accelerate key hires, consolidate its market leadership across LatAm and catapult its expansion strategy into EMEA and APAC.
Founded in 2019 by Alejandro Casas and Santiago Gomez, Simetrik’s infrastructure delivers greater control and transparency over a company’s financial transactions by automating reconciliation through a no code solution. Simetrik has seen rapid adoption of its services in the 24 months since it launched, reconciling $75 Bn of TPV per year in over 22 countries and serving well-known names across the industry including Mercado Pago, NuBank, Rappi Bank, Bancolombia, Addi, DLocal, Clara, Clip, and Ualá.
"As the payment methods landscape becomes increasingly saturated and complex - from the proliferation of BNPL, issuers, wallets, loyalty programs to crypto-wallets and cash networks- payment orchestrators like Simetrik will be key for money movement and data ledgers" said Santiago Gomez, Co-founder & COO.
“The experience of working closely with payment and fintech companies made us realize that there are still many obstacles for companies that use many different types of payment methods to satisfy increasing demand. We’re seeing rapid growth in the payment methods space at a global level, with new companies coming onto the market everyday,” said Alejandro Casas, Co-founder & CEO.
The company already has a strong solution-oriented reputation both internally and with their customers. "Everything flows much better between our ERP and Simetrik, the tools work well together: the teams now spend most of their time analyzing deviations and working on remediations and recoveries, which is what they should be doing," says Pedro Ant, CFO of Mercado Libre.
“From the beginning, we were impressed by the focus and tenacity of the entire Simetrik team. Their ability to recruit is extraordinary, and we believe that the powerful backing received in this round will help them to scale aggressively over the next few years,” said Carlos Alonso Torras, Principal at FinTech Collective and Head of Emerging Markets, who will be joining Simetrik’s board.
Cometa, the company’s main seed investor and incoming board member said: “Simetrik is revolutionizing the way Latin America’s super apps, top banks, and retailers reconcile bank statement transactions and add payments to company ledgers. Simetrik is in a great position to fully optimize the money movement lifecycle for the most data-rich enterprises in the region, and potentially the rest of the world.”
With a fully remote and tech-focused culture, Simetrik has over 100 open positions and is attracting the best talent in the region. Important funds such as Fen Ventures, Clocktower Ventures, GFC, MercadoLibre Fund, Rallycap Ventures, Amador Holdings, FJ Labs, Wayra, Simma Capital, as well as the main shareholders of Banco Base also participated in the investment round.
About Simetrik:
Simetrik is a payments infrastructure provider and global platform orchestrator that enables companies to easily automate all their reconciliation processes through a no code solution, delivering greater control, flexibility and transparency to finance teams. The company is reconciling $75 Bn of TPV per year in over 22 countries and serving well-known names across the industry including Mercado Pago, Rappi Bank, NuBank, Bancolombia, Addi, DLocal, Clara, Clip, and Ualá. Learn more at: https://simetrik.com/.
About FTC:
FinTech Collective is a global venture capital firm backing entrepreneurs who are re-imagining the way money moves through the world. Founded in 2012 and based in New York City, the firm has deep experience investing across capital markets, wealth management, banking, lending, payments, insurance, and DeFi. The managing partners of FinTech Collective are serial entrepreneurs and operators, having built, scaled and successfully exited four global fintech businesses.
Backed by some of the world’s leading institutional investors, FinTech Collective manages over $750m in regulatory assets and has invested in 70 portfolio companies.
We publish a weekly newsletter, delivered every Saturday and provide a tightly edited rundown of global fintech news, along with a bit of our original analysis (available at fintech.io/newsletter).