Carey Olsen advises Argentinian fintech Geopagos on US$35m funding round
August, 2022 - Bermuda, Bermuda
Founded in 2013, Geopagos is a white label infrastructure software service that provides clients with an end-to-end solution for launching or scaling their payment acceptance. Through Geopagos, businesses can acquire and facilitate card payments to their own clients.
The Carey Olsen team advising Geopagos on the Cayman Islands law aspects of its fundraising, alongside onshore counsel Gunderson Dettmer, comprised partner Alistair Russell and associate Evan Stitt.
Alistair said: "Geopagos has been incredibly well received by the market with a number of prominent banks, financial services companies and fintechs among their clientele. This is the company's first ever institutional fund raise, and the strength of this initial round is testament to Geopagos' potential and reputation in the pay-tech space. Carey Olsen wishes them every success and is proud to have assisted the company in its journey."
The funding round was led by Riverwood Capital with participation from Endeavour Catalyst. The Argentinian fintech will use the funds raised to accelerate its Latin America expansion and invest in its technological offering, including the development of new payment acceptance methods and the opening of an application programming interface platform for companies to speed up time to market. The company already has presence in 15 Latin American countries and facilitates more than 150 million transactions each year.
