Matera, a banking software provider founded in Brazil, has obtained a $100m investment from global growth investor Warburg Pincus.
This funding will support Matera’s expansion into the North American market and further enhance product development.
With over 30 years of experience, Matera specialises in core banking, instant payment, and QR code payment solutions for financial institutions.
The fintech company operates offices in the US and Brazil, offering a mission-critical suite of modern technology solutions used by more than 250 banks, credit unions, and financial institutions globally.
Matera is claimed to serve two of the top three banks worldwide and over one-third of all banks in Brazil.
Warburg Pincus’ investment comes during a period of substantial growth for Matera, having quadrupled its size since 2020 and earning $77m in revenue for 2023.
According to Matera, Brazil’s real-time payments rails (PIX) already makes up more than 40% of all electronic transactions, with the company itself processing over five billion transactions annually. Almost 50% of these are initiated via QR code scans.
Matera co-founder and CEO Carlos Netto said: “PIX set the standard for the digital finance revolution. At Matera, we know first-hand the pressure for banks to modernise their infrastructure to keep up with innovative new payment methods such as instant payments and pay-by-bank.
“We’re honoured to leverage our PIX expertise with proven solutions to help financial institutions across North America keep pace with their customers’ digital demands.”
In North America, Matera’s flagship offering, Digital Twin, is said to be a high-performance ledger designed to integrate seamlessly with banks’ existing core platforms. This technology addresses core banking modernisation challenges and facilitates real-time digital user experiences, even with legacy infrastructure constraints.
Warburg Pincus managing director Henrique Muramoto said: “We have been closely tracking Matera as PIX emerged in Brazil and have seen first-hand their ability to innovate and deliver world-class, mission-critical software that is both scalable and consistent.
“We now look forward to expanding this expertise into North America where we see immense opportunity for Digital Twin to help banks seamlessly modernise their core systems.”
Bank of America and Freitas Leite served as advisers to Matera in this transaction.
