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

Matera Overview

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

United StatesUnited States

Website

matera.com

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

Matera funding rounds
DateStageInvestorsRaisedDeal Summary
Jul 2024Undisclosed stageWarburg Pincus (lead)$100MMatera 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 2020Undisclosed stageKinea 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

Investors in Matera by funding rounds participated
InvestorHQRoundsRoleFirst check

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions 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

Cinnecta
Onidata
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 CountryBrazilBrazil
HQ City
Belo Horizonte
Rio de Janeiro
Deal Date15 Aug 202312 May 2022
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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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.

Public and private companies comparable to Matera
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ACI WorldwideUnited StatesUnited StatesPublicly listed$1.8B$456M$5.2B3.1x
Computer Age Management ServicesIndiaIndiaPublicly listed$158M$74M$1.8B10.5x
eFinanceEgyptEgyptPublicly listed$130M$67M$1.6B-
OptasiaUAEUAEPublicly listed$265M$79M$1.1B3.6x
M2P FintechIndiaIndiaPrivate$54M-$701M13.0x
Form3United KingdomLondonPrivate--$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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Visa$40B$26B17.6x15.4x27.1x22.0x
Mastercard$33B$20B15.5x14.1x24.9x22.3x
American Express$72B-3.1x2.9x--
S&P Global$15B$7.7B8.9x9.1x17.6x17.3x
Moody's$7.7B$3.8B11.2x10.6x22.5x20.1x
PayPal$33B$7.2B1.4x1.4x6.6x6.9x
Constellation Software$12B$2.5B4.0x3.5x18.5x12.9x
Fiserv$21B$8.9B2.5x2.8x6.1x6.4x

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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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