Payments Infrastructure Company Geopagos Announces $35M Financing led by Riverwood Capital
Gunderson Dettmer represented Buenos Aires-based client Geopagos, a developer of a digital payments services application, in a $35 million financing led by Riverwood Capital. The company’s payments infrastructure enables any person or business to accept payments through a small device connected to a smartphone or tablet in a secure way. Geopagos will use its new capital to develop new products, build out the company’s technology infrastructure, and expand into other Latin American countries.
In the announcement of the transaction, Co-Founder and CEO of Geopagos Sebastián Núñez Castro said, “In this environment, merchants can now significantly increase their ability to accept payments, since system costs are lowered and they have access to new and better products, all of which generates greater financial inclusion. In Latin America, all markets are moving toward a more open acquiring model, but each individual country is at varying levels of adoption. We continue to see progress in this area with those that embrace the open acquiring model creating a better, more accessible environment for merchants and purchasers alike.”
The Gunderson deal team was led by Daniel Green and Brian Willbur included Lily Kim, Thomas Graham, Daniel Gallo, Craig Olshan and Jamilah Mena.