Viking Global Investors has led a $150 million fundraising round in a Brazilian fintech firm Conductor. The investment marks its new expansion into the Latin American region. Viking Global Investors is a hedge fund based in Greenwich, specialising in early stage and late stage ventures.
The proceeds from the funding will be used to enhance and develop Conductor’s product line and foster international growth. The firm acknowledges itself to be ‘largest and fastest-growing full stack card issuing and acquiring platform’ in the region.
Conductor CEO Antonio Soares said in a statement, “The company’s mission is to modernize and democratize the payments stack in Latin America. We have grown our business 10x in the past few years, and we are just getting started. With this injection of capital, we will accelerate our product investment to unlock the massive opportunity ahead in Brazil and across Latin America.”
It is reported that Viking Global Investors manage capital worth more than $35 billion for its investors. Its workforce comprises 200 employees in various locations, including New York, Hong Kong, London and San Francisco.
Conductor has developed an industry leading fintech infrastructure platform in the region. Joaquim Lima, Partner at Riverwood Capital, Conductor’s principal investor since 2014, said in a statement, “We are excited about the opportunity ahead for Conductor to provide the technology backbone to power fintechs, modernise banks, and enable large enterprises to launch embedded fintech solutions.” Conductor holds a prominent position in the Latam market and it powers leading banks, fintechs, retailers and enterprises.