Title: Matera Surges with Pix Success: Investment from Warburg Pincus Accelerates Growth in North America
Meta Description: Learn how Matera, a Brazilian company providing instant payment solutions, secured a $100 million investment from Warburg Pincus and is now expanding into the North American market with its digital twin and QR code payment solutions.
To say that Pix, the instant payment system created by the Central Bank of Brazil, has been a resounding success is an understatement. With Pix, money moves directly between core banking systems of different financial institutions. Adoption has been widespread and ubiquitous, with around 153 million Brazilians (around 75% of the population) and 15 million companies using the system.
The success of Pix has naturally led to growth for companies providing the supporting technology, like Matera. Matera offers software to banks and licensed payment institutions to send and receive Pix, generate QR codes, and perform other functions within the Pix environment.
Pix was introduced in 2020 in Brazil, fueling Matera's growth. Matera has grown 4x since then, achieving 30% higher revenue of $77 million for 2023. Today, Matera announced a $100 million investment from Warburg Pincus, giving the private equity firm a majority stake in the company.
Matera is now looking to grow in North America, offering digital twin and QR code payment solutions. Matera CEO Carlos Netto hopes to help the U.S. catch up to Brazil in instant payments by reducing the complexity of legacy systems. The company processes close to 500 million Pix transactions per month and expects to reach 1 billion soon.
With 280 clients, including top global banks, Matera's subscription-based model continues to thrive. The company has 1,100 employees and is set to expand further with the support of Warburg Pincus in the U.S. market.
In conclusion, Matera's success with Pix in Brazil has positioned it as a leader in instant payment solutions. The investment from Warburg Pincus will fuel its growth in North America, offering innovative payment solutions to financial institutions and advancing the global payments infrastructure. This development not only showcases Matera's rapid growth but also highlights the shift towards instant payments in the financial industry, shaping the future of banking and transactions worldwide.