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- Matera
Matera Funding, Investors & Competitors
Matera has raised $120M across 2 funding rounds, most recently a $100M undisclosed-stage round in July 2024.
Last Matera funding round
$100M
Undisclosed stage · Jul 2024
Cumulative funding Matera raised
$120M
across 2 funding rounds
Key investors in Matera
Warburg Pincus
Kinea Private Equity IV Master Fundo de Investimento em Participações Multiestratégia
About Matera
Matera is a Brazilian and US-based banking software provider, with more than 30 years in the market, offering core banking, instant-payment, and QR code payment technology to more than 250 financial institutions, including over a third of Brazilian banks and two of the world's top three banks. Its systems process more than 5 billion transactions a year and play a central role in Brazil's PIX instant-payments network. The company has also built an AI-driven data-intelligence unit, through its acquisition of Cinnecta, to support customer analytics for its banking clients.
Founded
1987
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription, Usage-based
Matera Funding History
Matera has raised a total of $120M across 2 funding rounds.
Matera's first fundraising round was a $20M undisclosed-stage round in February 2020. The most recent completed round was a $100M undisclosed-stage round in July 2024.
Matera funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jul 2024 | Undisclosed stage | Warburg Pincus (lead) | $100M | Matera is a Brazilian banking software provider with over 30 years of experience, offering core banking, instant payment, and QR code payment solutions to more than 250 financial institutions worldwide, including over one-third of banks in Brazil and two of the top three global banks. Its solutions process over 5 billion transactions annually, with nearly half via QR codes, and support more than 60 million accounts and 12,000 transactions per second, playing a key role in Brazil's PIX real-time payments system, which handles over 40% of electronic transactions. On July 17, 2024, Matera announced a $100 million growth investment from Warburg Pincus to accelerate expansion into North America and advance product development. The funds will enhance offerings like Digital Twin, a high-performance ledger that integrates with existing core banking platforms to enable modernization and real-time digital experiences, alongside QR code payment solutions for merchants and consumers. Warburg Pincus acquired a minority stake (per TechCrunch), following Matera's prior minority investment from Kinea Private Equity in 2020; Bank of America and Freitas Leite advised the transaction. The investment coincides with robust growth: Matera quadrupled its size since 2020, achieving $77 million in revenue for 2023 while maintaining a strong profitability profile. The company projects R$500 million in revenue by end-2024 (~$90 million USD at current rates), driven by organic expansion, new large clients, acquisitions, and international push. Competitively, Matera positions itself against U.S. incumbents like FIS, Fiserv, and Jack Henry by targeting overlay solutions rather than full core banking replacement in North America, capitalizing on its PIX expertise amid rising demand for instant payments and pay-by-bank. Warburg Pincus, active in tech and fintech with over $33 billion invested in technology and $16 billion in financial services, views Matera as a scalable innovator in mission-critical banking software. |
| Feb 2020 | Undisclosed stage | Kinea Private Equity IV Master Fundo de Investimento em Participações Multiestratégia (lead) | $20M | - |
Who has invested in Matera?
2 investors have backed Matera across its funding rounds, including Warburg Pincus and Kinea Private Equity IV Master Fundo de Investimento em Participações Multiestratégia.
Lead investors include Warburg Pincus and Kinea Private Equity IV Master Fundo de Investimento em Participações Multiestratégia.
Matera Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Matera
Matera has acquired 2 companies to date.
Last acquisition by Matera was on August 15th 2023. Matera acquired Cinnecta for undisclosed valuation.
Latest Acquisitions by Matera
| Description | Cinnecta is a Fortaleza-based data intelligence platform serving retailers and telecoms in Brazil. The company analyzes customer behavior through machine learning to optimize marketing campaigns, pricing, and churn prediction, integrating with systems like CRM and ERP for real-time insights. | Onidata is a Mexico City-based fintech offering credit scoring, payroll lending, and financial services APIs. The platform analyzes alternative data for personal loans and SME financing, integrating with banking systems for instant approvals. Serving the underbanked market, Onidata partners with employers and neobanks across Latin America. |
| HQ Country | ||
| HQ City | Belo Horizonte | Rio de Janeiro |
| Deal Date | 15 Aug 2023 | 12 May 2022 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Matera acquisitions and their M&A valuation multiples. Start Free Trial | ||
Matera Competitors
Matera competitors include listed companies like ACI Worldwide, Computer Age Management Services, eFinance and Optasia, and private ones like M2P Fintech and Form3.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.8B | $456M | $5.2B | 3.1x | ||
| Publicly listed | $158M | $74M | $1.8B | 10.5x | ||
| Publicly listed | $130M | $67M | $1.6B | - | ||
| Publicly listed | $265M | $79M | $1.1B | 3.6x | ||
| Private | $54M | - | $701M | 13.0x | ||
| Private | - | - | $570M | - |
Matera Public Comps
Matera is still privately-owned, but its public comps include Visa, Mastercard, American Express, S&P Global, Moody's, PayPal, Constellation Software, Fiserv, Verisk Analytics and HiThink.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $40B | $26B | 17.6x | 15.4x | 27.1x | 22.0x | |||
| $33B | $20B | 15.5x | 14.1x | 24.9x | 22.3x | |||
| $72B | - | 3.1x | 2.9x | - | - | |||
| $15B | $7.7B | 8.9x | 9.1x | 17.6x | 17.3x | |||
| $7.7B | $3.8B | 11.2x | 10.6x | 22.5x | 20.1x | |||
| $33B | $7.2B | 1.4x | 1.4x | 6.6x | 6.9x | |||
| $12B | $2.5B | 4.0x | 3.5x | 18.5x | 12.9x | |||
| $21B | $8.9B | 2.5x | 2.8x | 6.1x | 6.4x | |||
This data is available for Pro users. Sign up to see all Matera competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Matera
| When was Matera founded? | Matera was founded in 1987. |
| Where is Matera headquartered? | Matera is headquartered in United States. |
| Is Matera publicly listed? | No, Matera is a private, VC-backed company. |
| How much funding has Matera raised? | Matera has raised $120M across 2 funding rounds. |
| What was Matera's last funding round? | Matera's last funding round was a $100M undisclosed-stage round in July 2024, led by Warburg Pincus. |
| Who are Matera's investors? | Matera's investors include Kinea Private Equity IV Master Fundo de Investimento em Participações Multiestratégia and Warburg Pincus. |
| Which companies are comparable to Matera? | Companies comparable to Matera include ACI Worldwide, Computer Age Management Services, eFinance, Optasia, M2P Fintech and Form3. |
| How many companies has Matera acquired? | Matera has acquired 2 companies, including Cinnecta and Onidata. |
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