Liquido, a paytech founded in Silicon Valley to simplify and optimize payment ecosystems in Latin America, recently announced that it raised $26 million in a funding round led by Index Venture.
The funds Base Partners, Restive Ventures, Mantis VC, and UpHonest Capital also contributed to the round.
With this new investment, the payment processing platform plans to boost the growth of its solutions in Mexico, Brazil, Colombia, and Chile — countries where it has been operating since last year and where it will seek to consolidate its position as one of the leading companies in the sector.
In addition, the company will use the funds raised to obtain the necessary local permits and licenses to act as a Payment Institution in each country within which it operates.
Founded in 2021 by Shanxiang Qi and MengKe ‘MK’ Li, Liquido has recorded more than $300 million in transactions since its launch and is now investing in strengthening the in-house technological structures that will allow it, according to the company, to process more than 5 million transactions per day.
Expanding a reliable, modern payment infrastructure for small businesses in LatAm
With the advance of e-commerce in LatAm, the value of overall transactions has increased considerably in the region.
But although countries such as Brazil and Chile are already working with fairly advanced payment systems that enhance business development in the region, the payments market in most of the continent remains fragmented.
In this context, Liquido seeks to expand its payments infrastructure throughout the region to democratize these systems so that small and medium-sized entrepreneurs can access their businesses’ entire commercial and financial potential.
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The Silicon Valley-based company now has a payment infrastructure that allows companies to accept and process various forms of payment and also offers other services such as payroll.
Recently, the paytech also launched its Payment Plus Platform, which was created to offer customer experiences adapted to the peculiarities of LatAm markets, and today can facilitate the creation of virtual stores through WhatsApp, which opens the door for small merchants to access uncomplicated and more functional payment systems.