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Brazilian paytech Hash announced today that it has raised US$40 million in a Series C

October 20, 2021
Por
Techcrunch
Techcrunch
Breaking technology news, analysis, and opinions from TechCrunch.
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Fintech Brazil
Hash, a payment infrastructure fintech, announced today that it has raised $40 million in a Series C funding round co-led by QED Investors and Kaszek.
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The raise comes just six months after the Brazilian startup raised $15 million in Series B financing led by Alexandria, Virginia-based QED, and brings its total raised to nearly $59 million since its 2017 inception. Endeavor Scale-Up Ventures also put money in the round.

Hash offers “end-to-end” payment infrastructure for non-financial B2B companies looking to offer banking services — from point-of-sale (POS) software and mobile applications to dashboards and payments. Its white-label software builds customized payment services, focusing on B2B companies with large customer chains and partners.

The raise comes just six months after the Brazilian startup raised $15 million in Series B financing led by Alexandria, Virginia-based QED, and brings its total raised to nearly $59 million since its 2017 inception. Endeavor Scale-Up Ventures also put money in the round.

Hash offers “end-to-end” payment infrastructure for non-financial B2B companies looking to offer banking services — from point-of-sale (POS) software and mobile applications to dashboards and payments. Its white-label software builds customized payment services, focusing on B2B companies with large customer chains and partners.

Hash, according to Miranda, aims to offer a “complete” payment services infrastructure with the goal of helping provide businesses with a new source of revenue.

“We understand that each sector, each ecosystem in the market, has its own specificities and necessities,” he told TechCrunch. “That’s why we use proprietary technology, capable of adapting to different market verticals.”

The startup plans to use its new capital to grow “even further” in the markets it’s already in, either geographically or by segment. Today, Hash operates only in Brazil. Its goal is to expand throughout the “entire national territory, which is huge and has great growth potential,” Miranda said.

Down the line, it wants to enable more financial services on top of its payments volume, such as credit, loans and card issuance infrastructure. Hash also plans, as most startups that have raised funding, to do more hiring. It’s already grown its headcount to nearly 170 compared to 74 a year ago. Its goal is to have 190 employees by year’s end.

Santiago Fossatti, a partner at Kaszek, believes that Hash is “capable of solving several pains” in the industry while still “adding real value” to the business of its customers.

“Hash is on its way to play an important role in the payments industry and become a reference in Latin America,” he added.

Calling the market opportunity “massive,” QED Investors partner Mike Packer believes that the main difference between Hash and others in the space is its “ability to combine the best technology with a unique perspective of how to integrate payments into their partners’ business models.”

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

The raise comes just six months after the Brazilian startup raised $15 million in Series B financing led by Alexandria, Virginia-based QED, and brings its total raised to nearly $59 million since its 2017 inception. Endeavor Scale-Up Ventures also put money in the round.

Hash offers “end-to-end” payment infrastructure for non-financial B2B companies looking to offer banking services — from point-of-sale (POS) software and mobile applications to dashboards and payments. Its white-label software builds customized payment services, focusing on B2B companies with large customer chains and partners.

The raise comes just six months after the Brazilian startup raised $15 million in Series B financing led by Alexandria, Virginia-based QED, and brings its total raised to nearly $59 million since its 2017 inception. Endeavor Scale-Up Ventures also put money in the round.

Hash offers “end-to-end” payment infrastructure for non-financial B2B companies looking to offer banking services — from point-of-sale (POS) software and mobile applications to dashboards and payments. Its white-label software builds customized payment services, focusing on B2B companies with large customer chains and partners.

Hash, according to Miranda, aims to offer a “complete” payment services infrastructure with the goal of helping provide businesses with a new source of revenue.

“We understand that each sector, each ecosystem in the market, has its own specificities and necessities,” he told TechCrunch. “That’s why we use proprietary technology, capable of adapting to different market verticals.”

The startup plans to use its new capital to grow “even further” in the markets it’s already in, either geographically or by segment. Today, Hash operates only in Brazil. Its goal is to expand throughout the “entire national territory, which is huge and has great growth potential,” Miranda said.

Down the line, it wants to enable more financial services on top of its payments volume, such as credit, loans and card issuance infrastructure. Hash also plans, as most startups that have raised funding, to do more hiring. It’s already grown its headcount to nearly 170 compared to 74 a year ago. Its goal is to have 190 employees by year’s end.

Santiago Fossatti, a partner at Kaszek, believes that Hash is “capable of solving several pains” in the industry while still “adding real value” to the business of its customers.

“Hash is on its way to play an important role in the payments industry and become a reference in Latin America,” he added.

Calling the market opportunity “massive,” QED Investors partner Mike Packer believes that the main difference between Hash and others in the space is its “ability to combine the best technology with a unique perspective of how to integrate payments into their partners’ business models.”

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.

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