Canastra We raised $21 million in a Series A funding round to continue improving our technology-driven back-office for private credit funds and securitizations in Brazil.
With the new funding, the company aims to continue its “strong growth” after growing more than 10x over the past 12 months and adding 130 clients, Canastra said in a press release emailed to PYMNTS on Wednesday (June 5).
“The biggest challenge in our industry is scaling the company while maintaining and improving the quality of our products and the breadth of services for our users,” said Canastra’s CEO and co-founder. Gustavo Mapelli “We believe the solution is to have the best technology and team in the industry,” the release said.
Canastra’s services include both a complete technology platform and regulatory licenses, enabling it to offer credit originators and institutional investors: Business automation The company also will provide data and analytical tools to monitor private credit funds and securitizations, according to the announcement.
The company offers banking products such as fund management, administration and custody of asset-backed private credit funds, issuance and administration of securitized products, escrow accounts, debt issuance and debt payment methods, according to the release.
Canastra’s latest funding round was led by KazekAccording to the release.
In another investment into a Brazilian company, business payments company Fleetcore Technologies In March, the majority investment Brazilian car payment company The Pie(FLEETCOR then Changed name To Cope.
Zapay’s digital mobility solutions allow drivers to pay vehicle taxes, registrations and tickets, and FLEETCOR says it is the only company integrated into the national transport authorities of all 27 Brazilian states. at that time In a press release.
In August, JPMorgan Chase Enhanced Stake Brazilian Digital Bank C6 Bank increased from 40% to 46%, at that time C6 Bank has grown, increasing its customer base from 8 million to 25 million.
