YellowPepper Announces $12.5M in Additional Funding to Drive Latin American Growth
May 24 2018 - 8:00AM
Business Wire
Visa makes strategic investment as company
powers half a billion digital transactions
YellowPepper today announced the close of its $12.5 million
Series D financing, with participation from Visa and current
investors. The funding will be used to accelerate the momentum of
its digital finance platform, which already powers 480M digital
transactions annually. With more than 60 clients in six countries,
YellowPepper has become an indispensable financial services partner
to Latin American institutions.
“We have been the go-to service for all major financial
institutions and retailers for years and now are expanding our
secure and efficient technology to build out a robust ecosystem
within Latin America to make interacting with, managing and
accepting cashless payments as easy as possible,” said Serge
Elkiner, Co-Founder and Chief Executive Officer at
YellowPepper.
YellowPepper’s technology is a catalyst for large-scale
distribution of mobile solutions in Latin America, which has the
fastest rate of smartphone adoption in the world, with total
adoption expected to reach 60 percent of mobile phone users by
2020, up from 38 percent in 2016. (source: Pew Research Center,
February 2016) Smartphone Ownership and Internet Usage Continues to
Climb in Emerging Economics
“YellowPepper has revolutionized the digital payment process for
companies and consumers in Latin America,” said Eduardo Coello,
regional president for Visa Latin America and the Caribbean.
“Through our investment in YellowPepper, we want to bring the best
of Visa’s technology and capabilities to a broader set of partners
and clients across the region. YellowPepper’s extensive experience
in the region and the strength of their existing client base makes
them an ideal partner to build the future of payments.”
Institutional and retail customers leverage YellowPepper’s
technology to transform their legacy system into next generation
mobile first platforms expanding and optimizing their product
portfolio.
FT Partners served as the exclusive strategic and financial
advisor to YellowPepper.
About YellowPepper
Founded in 2004, YellowPepper is the fintech pioneer in Latin
America with proprietary technology and partnerships with leading
financial institutions and industry startups. YellowPepper provides
a digital finance platform that gives consumers, merchants, issuers
and processors the means to revolutionize the purchasing
experience. Operating in six Latin American countries the
Miami-based company currently enables over 6.6 million monthly
active users that execute 480 million transactions yearly, while
connecting them with more than 400,000 merchants. For more
information, please visit www.yellowpepper.com.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments.
Our mission is to connect the world through the most innovative,
reliable and secure payment network - enabling individuals,
businesses and economies to thrive. Our advanced global processing
network, VisaNet, provides secure and reliable payments around the
world, and is capable of handling more than 65,000 transaction
messages a second. As the world moves from analog to digital, Visa
is applying our brand, products, people, network and scale to
reshape the future of commerce. For more information, visit About
Visa, visacorporate.tumblr.com, @VisaNews, @VisaNewsLatam.
Acerca de YellowPepper
Fundada en 2004, YellowPepper es la empresa pionera en los pagos
móviles en América Latina, cuenta con una tecnología propietaria y
está asociada con las instituciones y fintechs líderes.
YellowPepper proporciona una plataforma de pago que proporciona a
los consumidores, comercios, emisores y procesadores los medios
para revolucionar la experiencia de pago. Con operaciones en seis
países latinoamericanos, la empresa con sede en Miami habilita
actualmente a más de 6.6 millones de usuarios mensuales activos que
realizan 480 millones de transacciones al año, al mismo tiempo que
los conecta con más de 400,000 comercios. Para obtener información
más detallada, visite www.yellowpepper.com.
About FT Partners
FT Partners is the only investment banking firm focused
exclusively on providing strategic and financial advisory services
to clients and CEOs in the dynamic global financial services and
technology sector. For more, visit www.ftpartners.com
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YellowPepperJessica Piha,
+1-206-422-0712jessica@jvpmedia.comorVisa Inc.Catalina
Bantulacbantula@visa.com