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Colombian Fintech Simetrik Gets $24M for Payments Solution

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colombian 20m series fintech azevedotechcrunchAre you on the lookout for a reliable payments solution? Look no further, because Colombian fintech Simetrik has raised an impressive $24 million to make secure payment transfers stress-free!

This article will explore the recent funding and the company’s innovative offering.


Simetrik, a Colombia-based fintech company, has announced a successful funding round worth $24 million as it looks to further develop its payments solution.

The capital injection will expand the company’s offerings, primarily connecting users with Latin America’s most profitable financial services. This service provided by Simetrik allows customers to pay for goods and services through the digital platform, providing speed and convenience for both sides.

The Endeavor Catalyst Fund spearheaded this recent influx of funding and features contributions from existing investors such as Greyhound Capital, Pyme Capital, Point 72 Ventures and Kaszek Ventures. Many industry leaders see this move as a sign that Latin American startups have potential for worldwide success.

Simetrik will now use this new funding to expand its presence in Colombia and other markets throughout Latin America to reach more customers looking for cost savings solutions.

Overview of Simetrik

Simetrik is a Colombian fintech company specializing in powering payments solutions for large enterprises, financial services providers and traditional banks. Founded in 2018, Simetrik developed a robust platform that enables companies to securely distribute funds and manage payments across its network with real-time insights.

The startup recently announced it had raised $24 million in its latest funding round, led by Goldman Sachs and Rembrandt Investment Partners to expand its offerings.

Simetrik’s success is partly due to its focus on catering to the needs of large clients looking to better manage their payments infrastructure on a global scale. With the new funds, Simetrik intends to double down on its efforts in Latin America, emphasizing Mexico, Brazil, Chile and Argentina. Additionally, Simetrik plans to use the funds for further product development reinforcing its compliance technology stack and pursue other strategic opportunities such as partnerships and acquisitions.

The injection of capital from this round puts Simetrik in a strong position not just regionally but internationally as the company continues developing innovative payment solutions tailored for businesses of all sizes.

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Colombian fintech Simetrik raises $24M for payments solution

The early-stage venture Simetrik, which is a payments solution provider based in Colombia, recently raised a funding of $24 million. Fortress Investment Group and Temasek led this round. It resulted in the company reaching a valuation of over $100 million.

As a part of the investment agreement, Goldman Sachs’ Principal Strategic Investments (PSI) division will invest an undisclosed amount in Simetrik. Also joining the syndicate is Colombia’s Grupo Nutresa and existing investors such as Endeavor Catalyst, ALLVP and Bass/Flurry Capital Latin America Fund LP.

The new capital will be used for scaling up operations for Simetrik’s payment processing services to small- and medium-sized businesses across Latin America and Brazil. The company also wants to develop its product suite further with optimization solutions tailored to improving sales volumes and conversion rate optimization and reducing fraudulent activities. It also plans to add new regions to its current regional network that spans Venezuela, Mexico, Chile, Peru and Colombia. This fresh capital will help advance the company on its mission of becoming the digital financial hub for SMEs in Latin America.

What the Funding Will be Used For

Simetrik, a Colombian fintech that enables banks and other businesses to process online transactions securely, has raised $24 million in a Series A funding round. The funding was led by Greycroft Partners and joined by TLcom Capital, Prodigy Ventures, Lapis Capital, Omidyar Network Latin America, Elevar Equity, and existing investors ENDI (Digital Nest ITG), Village Global, Colombia Ventures and Quona Capital.

This new investment will enable Simetrik to accelerate its mission of simplifying payments globally by expanding into additional countries and offering new products. It also looks to increase their team size and invest in technology driven solutions such as data science and machine learning. In addition, Simetrik plans to make digital payments faster and cheaper for those financially underserved worldwide through its proprietary platform. The platform is used by some of the biggest banks in South America such as Bancolombia and other leading financial institutions in North America, Latin America and Europe.

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Benefits of Simetrik’s Payment Solution

Simetrik, based in Medellin, Colombia, is leveraging technology to transform payment processes for businesses nationwide and beyond. With the Series B financing round of $24 million, Simetrik has now raised $30 million. The fresh capital will be used to expand their payments solution and further their mission of helping businesses grow.

Simetrik’s payments product offers several benefits for businesses. First, it allows users to connect multiple service providers with just one integration point and provides access to faster payments generated instantly. This accelerates invoice processing times from days or sometimes weeks down to minutes or even seconds. Additionally, the integrated solution gives companies more control over invoicing: they get real-time visibility into their financial movements and can consolidate data from multiple sources into one place.

Furthermore, Simetrik creates added value through analytics tools that enable customised insights into how companies perform related to key performance metrics such as customer acquisition costs (CAC), lifetime customer value (LTV), customer churn rate (CCR),and customer return on ad spend (CROAS). This added layer of visibility onto user analytics helps them identify issues early on. In addition, it enables use cases such as inducing loyalty amongst existing customers or targeting new ones through smart mechanisms.

Challenges Faced by Simetrik

The Colombian fintech Simetrik recently raised $24 million to help expand their payments solution. This follows a successful Series A fundraising round two years ago in which the company raised $35 million. The solution has led to more efficient and secure payment processing, helping to reduce the burden on customers and merchants.

Despite early success, Simetrik’s expansion into Colombia has presented some unique challenges. The country’s technology infrastructure is relatively new. It is far behind many other nations using payments technology, with less than half Colombians owning credit cards or bank accounts. Moreover, many Colombians remain skeptical of digital-only payments solutions due to concerns about security and privacy.

In addition, Colombian regulations can make it difficult for companies offering digital banking solutions to access payment rails or connect with local debit-card networks. All these factors have presented significant challenges for Simetrik when trying to build their customer base in Colombia. Still, with increased consumer trust in fintech companies, the firm is well-positioned for future growth.

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Future Plans for Simetrik

Looking ahead, Simetrik plans to use the proceeds of its Series B funding round to accelerate product innovation, international expansions and further development of its platform’s capabilities. Additionally, the company will invest in expanding its network of partners and strategic alliances with banks, acquirers and third-party payment processors.

With this fundraising effort, Simetrik seeks to cater to new customers worldwide and develop a comprehensive payments client services program for businesses beyond Colombia. The goal is for Simetrik’s platform to become a “one-stop shop” for merchants of all sizes in Latin America by 2021.

The funding from Kadmos Ventures will also be used to add AI capabilities to further automate the processing of transactions while offering personalized experiences across industries. In addition, Simetrik plans to invest in building data science models that can provide a unique sentiment analysis score during each payment authorization. This would allow them to quickly identify potential fraud or suspicious activity while providing insights into customer behavior.


In conclusion, Colombian fintech Simetrik has raised $24 million in Series A funding to develop its integrated payments solution, which seeks to streamline the entire payment process for individuals and businesses. In addition, the company plans to deploy its product in other Latin American countries and expand into new markets.

With this funding round, Simetrik is poised to strengthen its industry presence in the region and become a major player in the fintech space.