Brazil's Dock raises $110m in a Funding Round led by Lightrock and Silver Lake Waterman

Fundraising News
13.05.2022 08:45 am

Dock, a leading full-stack payments and digital banking platform across Latin America, announced today that it has raised $110 million in growth funding led by Lightrock and Silver Lake Waterman, with participation from existing investors Riverwood Capital, Viking Global Investors and Sunley House Capital, bringing its valuation to over $1.5 billion.

The funds will be used to accelerate the company’s product development roadmap and international expansion plans, and to add new talent as Dock taps into the $18.5 billion total addressable market for card processing and banking-as-a-service in the Latin America region.

Dock delivers best-in-class solutions through its open API and cloud-native platform, enabling over 300 clients to offer unique user experiences in their payments, credit and digital banking offerings and powering 65 million active end users throughout the region today. Dock has scaled into the leading business-to-business fintech infrastructure company in Latin America, facilitating an acceleration of the digital adoption of financial services as its clients offer world-class, differentiated consumer journeys.

Dock’s modern end-to-end platform allows any business to offer financial services, including the launch and management of custom cards, payment processing, and banking-as-a service with digital accounts, mobile payments, and fraud management. Dock’s broad client base includes fintechs, retailers, banks, and technology companies that are focused on improving the customer experience for the currently banked population, as well as bringing previously unbanked and underbanked consumers into the digital payments and banking systems. With this capital, Dock is one step closer to achieving its mission of democratizing access to financial services for consumers and businesses in Latin America and beyond.

Antonio Soares, CEO at Dock:

“This is only the beginning for us. This investment validates our vision of bringing great solutions to the market that solve real business problems for our clients, while increasing and democratizing access to financial services. As we close this funding round, we are excited to continue innovating and expanding while building products that help our clients grow by providing fast, efficient and personalized financial services to their customers. We add value because payments and banking are complex global businesses with local specificities, and we understand that better than anyone else.”