Latin American Simetrik raises $55m for global expansion

Goldman Sachs led the round

Simetrik, a Colombia-based business-to-business platform that automates financial tasks, has raised $55m in a series B funding round.  

The company plans to use the funds to expand its international reach and target major payment companies and consumer marketplaces worldwide.  

The round was led by Goldman Sachs, with participation from FinTech Collective, which led the series A round, and Cometa, which led the seed round. Other investors include Falabella Ventures, Endeavor Catalyst, Actyus, and the co-founders of Vtex. 

Simetrik’s solution automates tasks like record centralisation, reconciliations, reporting and accounting. Its products are based on Simetrik Building Blocks (SBBs), a concept based on no-code development and generative AI technologies.  

Founded in 2018, Simetrik’s clients include PayU, Mercado Libre, PagSeguro, Nubank and Deloitte. The company operates in more than 35 countries, including India and Singapore.  

“This funding marks a pivotal step for Simetrik in reinforcing its role in the rapidly transforming financial sector and expanding its global reach,” Alejandro Casas, co-founder and chief executive officer of Simetrik, said.   

Santiago Gómez, co-founder and chief operating officer of Simetrik, added: “This funding enables us to elevate our SBBs, integrating more advanced and secure AI to deliver unparalleled financial automation solutions.”  

Natan Reinig, vice president of growth equity at Goldman Sachs, thinks financial automation is a thriving industry worldwide. “We believe this investment will allow it to expand even further through the Latin American market and beyond,” he said. “We are thrilled to lead this series B round.” 

Image: Simetrik 

Josh Poyser Josh Poyser is an editor at FinTech Intel. He has written about fintech for several years and appeared at FinTech Connect 2023 on the 'Unlocking Success: The Art of Fintech PR' panel.