Dock Receives $110M in Funding for Its Digital Banking and Payments Platform

Digital payment and banking are major parts of the online space, especially for e-commerce, which is why Dock stands out. The company offers a comprehensive platform that offers solutions for both payments and digital support, covering the entire ecosystem. Moreover, it is already a leading player in Latin America. If you want to learn more about Dock and its awesome platform, check out the article below.

SAO PAULO & NEW YORK–(BUSINESS WIRE)–Dock, a leading digital banking and payments platform in Latin America, today announced 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 the card processing and banking as a service in the Latin America region.1

Dock delivers best-in-class solutions through its open API and cloud-native platform, enabling over 300 customers to deliver unique user experiences across their payment, credit and digital banking offerings and powering today 65 million active end users across the region. Dock has become the leading B2B fintech infrastructure company in Latin America, facilitating an acceleration of digital adoption of financial services as its customers deliver differentiated, world-class consumer journeys.

Dock’s modern end-to-end platform enables any business to offer financial services, including launching and managing personalized cards, processing payments and banking as a service with digital accounts, mobile payments and fraud management. Dock’s broad customer base includes fintechs, retailers, banks and technology companies that are focused on improving the customer experience for the currently banked population, as well as onboarding previously unbanked and under-banked consumers. banked in digital payments and banking systems. With this capital, Dock takes another step towards achieving its mission of democratizing access to financial services for consumers and businesses in Latin America and beyond.

“This is just the beginning for us,” said Dock CEO Antonio Soares. “This investment validates our vision to bring great solutions to market that solve the real business problems of our customers, while increasing and democratizing access to financial services. As we close this round of funding, we are excited to continue to innovate and grow while creating products that help our customers 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 specifics, and we understand that better than anyone. »

“Dock’s mission is perfectly aligned with our goal of building a sustainable future,” said Marcos Wilson Pereira, Managing Partner and Head of Latin America at Lightrock. “Despite positive advances in recent years, the financial services market in Latin America still has significant room for accelerated growth. We are delighted to partner with Dock to enable greater financial inclusion, which will drive economic growth and strengthen equity.

“We are proud to work with Dock’s management team and stakeholders to help the business continue its expansion in the region,” said Shawn O’Neill, managing director and group leader of Silver Lake Waterman. “Dock’s scalable platform is becoming the platform of choice for businesses of all sizes, in all industries, to launch and scale digital payments and banking across Latin America, and we’re excited of what is yet to come.”

Learn more about dock.tech.

About the dock

Dock is one of the leading digital banking and payments platforms in Latin America. The company adds business value, innovation and scalability to its customers, bringing together card issuance, digital banking and acquiring through a single, comprehensive platform. Dock’s modular solutions facilitate critical processes that accelerate companies’ ability to bring new payment and financial services to market. The result is a wider range of innovative products, better consumer access to financial services, credit card services and an improved customer experience.

Dock operates 65 million active accounts and over 5 billion transactions annually through its cloud platform, reducing operational and regulatory burden and providing other valuable tools to customers through its partner ecosystem so they can focus on end user experience.

About Lightrock

Lightrock is a global private equity platform supporting entrepreneurs committed to tackling the world’s biggest challenges. Since 2009, Lightrock has invested in companies that pursue scalable, technology-driven business models around the key impact themes of people, planet and productivity/technology for good. Lightrock’s portfolio includes over 80 high-growth companies in 14 countries across Europe, the United States, Latin America, Asia and Africa, supported by over 80 professionals based in 5 offices across these regions, including Lightrock’s London headquarters. https://www.lightrock.com

About Silver Lake Waterman

Silver Lake Waterman is part of Silver Lake, the global leader in technology investing with over $90 billion in combined assets under management and committed capital and a team of professionals based in North America, Europe and Asia . Silver Lake Waterman is focused on providing flexible expansion capital to later growth stage companies in the technology and technology sectors. For more information on Silver Lake Waterman and Silver Lake, please visit www.silverlake.com.

1 Americas Market Analysis, Card/Payment Processing and Banking as a Service Market Reading – Latin America, September 2021

the original article can be found on Business Wire.


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Elaine R. Knight