Dock, a leading full-stack payments and digital banking platform in Latin America, announced today that it has raised $110 million in growth financing led by Lightrock and Silver Lake Waterman, with the participation of investors Riverwood Capital, Viking Global Investors and Sunley House Capital, raising its valuation to more than $1.5 billion. The funds will be used to accelerate the company’s new product development roadmap and international expansion plans, and to add new talent as Dock accesses the $18.5 billion Total Addressable Market for card processing andbanking-as-a-service in the Latin American region.
Dock offers best-in-class solutions through its open API and cloud-native platform , enabling more than 300 customers to deliver unique user experiences across its digital banking, credit and payment offerings and empowering 65 million active end users throughout the region today. Dock has become the leading B2B fintech infrastructure company in Latin America, facilitating an acceleration of digital adoption of financial services.
Dock’s comprehensive platform enables any company to offer financial services, including the launch and management of personalized cards, payment processing and banking-as-a-service with digital accounts, mobile payments, among others. Dock’s broad client base includes fintechs, retailers, banks, and technology companies focused on improving the customer experience for today’s underbanked population, as well as engaging previously unbanked consumers and of digital payments. With this capital, Dock is one step closer to 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 Antonio Soares , Dock’s CEO. “This investment validates our vision of bringing great solutions to market that solve real business problems for our clients, while increasing and democratizing access to financial services. As we close this funding round, we are excited to continue to innovate and expand.” while building products that help our clients grow by providing fast, personalized financial services to their users. We add value because banking and payments are complex global businesses with local specificities, and we understand that better than anyone.”
“Dock’s mission is perfectly aligned with our focus on building a sustainable future,” said Marcos Wilson Pereira , Managing Partner and Head of Latin America for Lightrock. “Despite positive developments in recent years, the financial services market in Latin America still has significant room for accelerated growth.
We are excited to partner with Dock to enable greater financial inclusion, which will drive economic growth and increase equity.”
We are proud to work with the Dock team and stakeholders to help the company continue to expand throughout the region,” said Shawn O’Neill , Managing Director and Group Head of Silver Lake Waterman.