Liquido, a US-based paytech built to boost digital payments access for Latin American businesses, has emerged from stealth with $26 million in funding.
The lead investor in the funding round is Index Ventures, with additional investors including Base Partners, Restive Ventures, Mantis VC and UpHonest Capital also taking part.
The company says it has spent the last two years building a payments infrastructure to “modernise and democratise” digital payments for Latin American businesses in a way “similar to what Stripe has done in the US”.
At its core, through a unified API, Liquido allows businesses to accept and process all forms of payment, including credit and debit cards, bank transfers, digital wallets and cash,to increase payment acceptance rates. It also provides payroll payment services for businesses as well as the ability to pay suppliers through bank transfers.
Liquido has also launched its Payment Plus Platform, which creates customer experiences tailored to local markets. Its initial offerings include a “first-of-its-kind” WhatsApp Liquido Store, which allows merchants to build a Shopify-like storefront within WhatsApp.
The company says its Payment Success Booster solution allows merchants to achieve higher payment success rates with features such as fraud flagging, transaction blocking, WhatsApp payment recovery, flexible payment method switching and smart routing and retrying.
“In the rapidly evolving LatAm market, there is typically high consumer demand for advanced technology, products and experiences, while product development and adoption lag behind,” says MK Li, Liquido co-founder and CEO.
With the fresh funding, Liquido will look to accelerate its deployment and develop additional capabilities. The company claims to have already processed $300 million in payments through a closed beta with a number of top consumer brands.
Image: latamlist