Growth investment strengthens development of
innovative core banking software solutions and further expansion
into global markets
ATLANTA, July 17,
2024 /PRNewswire/ -- Matera, a leading banking
software provider, today announced a $100
million investment from Warburg Pincus, a leading global
growth investor. The investment will be used to fund the company's
expansion into the North American market and further expand product
development.
Founded in Brazil, Matera is a
trusted technology provider of core banking, instant payment, and
QR code payment solutions for financial institutions, backed by
over 30 years of experience in providing best-in-class software
solutions. With offices in the United
States and Brazil, the
company's core offering is a mission-critical suite of modern
technology solutions used by more than 250 banks, credit unions and
financial institutions globally, including two of the top three
banks in the world and over one-third of all banks in Brazil. This investment comes at a moment of
significant growth for Matera, the company has grown 4x since 2020,
achieving $77 million in revenue for
2023, while maintaining a strong profitability profile.
Matera is the pioneer provider of next-generation software
enabling real-time payments in Brazil, a country which is a global standard
when it comes to payments infrastructure, led by a long-standing
innovative central bank agenda. In Brazil, Central Banks' real-time payments
rails ("PIX") already accounts for over 40% of all electronic
transactions in the country, and Matera's solution alone processes
over 5 billion transactions a year. Nearly half of those are
initiated by scanning a QR Code.
The company expanded into North
America with solutions centered around the same principles,
leveraging their multi-decade expertise in banking software.
Matera's flagship offering for North
America is called Digital Twin, a next-generation,
high-performance ledger built to work on top of bank's existing
core platforms to enable them to solve two of their biggest pains:
core banking modernization and creating real-time digital user
experiences despite an inflexible legacy infrastructure. They're
also offering their QR Code payments solution that enables billers
and merchants to present QR Codes to be paid by mobile phone. It
also powers consumers to generate QR Codes from a mobile app to
make payments.
"PIX set the standard for the digital finance revolution. At
Matera, we know first-hand the pressure for banks to modernize
their infrastructure to keep up with innovative new payment methods
such as instant payments and pay-by-bank. We're honored to leverage
our PIX expertise with proven solutions to help financial
institutions across North America
keep pace with their customers' digital demands," said Carlos Netto, Co-Founder & CEO of
Matera.
"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 modernize their core systems," said
Henrique Muramoto, Managing Director
at Warburg Pincus. "We are excited to partner with Carlos and the
Matera team in their next phase of growth."
Warburg Pincus is one of the most active growth investors in
enterprise technology and cloud-based platforms, investing over
$33 billion in technology companies
and over $16 billion in financial
services companies since inception.
Bank of America and Freitas Leite
acted as advisors to Matera in this transaction.
About Matera
Matera is a trusted provider of technology solutions for
financial institutions. With over 30 years of experience and a team
of over 1,000 professionals, Matera has deep expertise in Core
Banking, Instant Payments and QR Code Payments. Two of the top
three global banks, three of the top 10 U.S. banks and one-third of
all banks in Brazil trust Matera.
Matera operates in both Brazil and
North America. To learn more,
visit: www.matera.com.
About Warburg Pincus
Warburg Pincus LLC is a leading global growth investor. The firm
has more than $83 billion in assets
under management. The firm's active portfolio of more than 225
companies is highly diversified by stage, sector, and geography.
Warburg Pincus is an experienced partner to management teams
seeking to build durable companies with sustainable value. Since
its founding in 1966, Warburg Pincus has invested more than
$117 billion in over 1,000 companies
globally across its private equity, real estate, and capital
solutions strategies. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong
Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San
Francisco, São Paulo, Shanghai, and Singapore. For more information, please
visit www.warburgpincus.com. Follow us on LinkedIn.
Contact
Warburg Pincus
Sarah McGrath Bloom, Warburg
Pincus
Sarah.bloom@warburgpincus.com
Matera
Sarah Hoisington, Matera
Sarah.Hoisington@Matera.com
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SOURCE Matera