Colombian fintech start-up Simetrik lands $24m Series A funding
Colombian payments infrastructure provider Simetrik has raised $24 million in a Series A funding round.
Simetrik plans to expand into new markets
The round was led by FinTech Collective and saw participation from Tiger Global, Moore Capital, Cometa, Monashees, Fen Ventures, Clocktower Ventures, GFC, MercadoLibre Fund, Rallycap Ventures, Amador Holdings, FJ Labs, Wayra and Simma Capital.
FinTech Collective principal and head of emerging markets Carlos Alonso Torras will join Simetrik’s board.
Several angel investors also participated in the Series A, including Addi CEO Santiago Suarez and Plaid corporate strategy head Jason Pate.
Founded in 2019 by Alejandro Casas and Santiago Gomez, Simetrik says it is building a global payment orchestration platform that delivers greater transparency and control over company transactions by automating reconciliation through a no-code solution.
Since its launch two years ago, Simetrik claims to have reconciled $150 billion worth of total payment volume in more than 22 countries.
“The experience of working closely with payment and fintech companies made us realise that there are still many obstacles for companies that use many different types of payment methods to satisfy increasing demand,” says CEO and co-founder Casas.
Simetrik says the cash will go towards key hires, consolidating its market leadership across LatAm and expanding into Europe, the Middle East and Africa, as well as the Asia Pacific region.
“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,” says chief operating officer and co-founder Gomez.
