In a new phase, Conductor integrates the company under the Dock brand.

In a new phase, Conductor integrates the company under the Dock brand.

a company of payment options e-banking conductor It has a new form. Following an internal restructuring carried out in the first half of the year to unify the operations of the three companies in the group (Conductor, Dock and Muxi), the company announced on Monday, 30, a reformed version of the brand dock will represent your business.

“We felt it was time to bring all the businesses together, unite the teams and make the operation more product-oriented. We also thought of creating a fourth name to represent the new phase, but as Dock was a brand made in-house, it seemed like the right choice”, says the company’s president, Antonio Soares. in the exam.

The rebranding and business integration helps the company to consolidate itself as a provider of banking services to other companies. Today, it offers products in four main areas: digital banking; card issuance and processing; finding solutions; and risk and compliance. Through its clients, the fintech has opened over 160 million digital accounts and today has 38.5 million active users.

The change comes during a period of expansion for the company, which has just opened an office in Mexico to move forward in internationalizing its services. In addition, sources consulted by the agency Reuters have confirmed that the company is preparing to go public in the United States later this year, with banks Goldman Sachs, JPMorgan, Bank of America and Credit Suisse coordinating the proposal. are doing.

Dock: Brand new integrates and replaces the previous three

Dock: Brand new integrates and replaces the previous three (Doc/Disclosure)

Founded in 1995, Conductor is positioned in Brazil offering private label card service to retailers. In November 2014, the operation was acquired 100% by US private equity Riverwood Capital for an undisclosed amount. Since then, the company has been building payment platforms to become a technology as a service provider.

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In 2018, the company created Dock as its banking as a service front, after receiving a contribution with Visa. Since then, the company has provided retailers with the ability to open digital accounts for their end customers. To complement the solution, Conductor acquired the operations of Muxi in mid-2020, a provider of solutions for capturing transactions at point of sale, a fundamental service specifically for small retailers.

Late last year, the company raised US$170 million in a round led by American Viking Global Investors and Sunly House Capital (Advent) and with participation from Temasek, one of Singapore’s sovereign funds. The contribution came to bolster the company’s cash, allow for investment in new technologies, and accelerate international expansion. After growing fourfold in 2020, today the business employs 1,300 people, processing 2.5 to 3 billion transactions per year, which together add up to more than $250 billion.

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About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

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