Brazilian FinTech company Hash scores funding as seeks growth in the country

Hash, a Brazilian FinTech company that provides payment infrastructure for B2B companies, has reportedly raised $40m in Series C funding.

The round was co-led by QED Investors and Kaszek, with a commitment also coming from Endeavor Scale-Up Ventures, according to a report from TechCrunch.

Funds from the round will be used to help Hash grow in its existing markets, either geographically or across segments.

This Series C round comes only six months after Hash collected $15m in its Series B round, which was also supported by QED Investors. Hash claims to have experienced six-times growth in transactions on its platform and doubled its client base to 16.

Furthermore, the FinTech company has seen ten-times growth in POS transactions in the past year and hopes to reach a total of $275m in total payment volume by the end of the year, the article said.

Hash founder and CEO João Miranda told TechCrunch, “We understand that each sector, each ecosystem in the market, has its own specificities and necessities. That’s why we use proprietary technology, capable of adapting to different market verticals.”

The FinTech company, which was founded in 2017, provides businesses with a variety of payment infrastructure and management tools. Its features include payment terminals, administration and merchant dashboards, mobile apps and more.

Earlier in the year, fellow Brazilian FinTech company Clara secured a total of $35m in its Series A round, which was split across two fundraises. It initially bagged $30m in May and then secured an additional $5m in July.

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