Celcoin, a Brazilian fintech specializing in Banking as a Service (BaaS), has secured a US$125 million investment led by Summit Partners. This funding round, also supported by Innova Capital and fintech executive John Coughlin, aims to accelerate Celcoin's expansion and product innovation. Established in 2016, Celcoin provides financial infrastructure for over 400 financial companies and 5,000 non-financial firms, focusing on payments, banking, and lending.
Celcoin is a leader in Open Banking solutions in Brazil and processes over 200 million Pix transactions monthly. The company reported a 140% increase in annual recurring revenue, reaching US$63 million in Q1 2024. The investment will enhance technology, innovation, and potential M&A opportunities. Celcoin's recent strategic acquisitions include Galax Pay, Flow Finance, Finansystech, and Reg+.
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