Matera provides core banking, instant payment, and QR code payment technology to more than 250 banks, credit unions and financial institutions globally, including two of the top three banks in the world and over one-third of all banks in Brazil. The company has benefited from the huge popularity of Pix, the instant payments platform launched in late 2020 by Brazil’s central bank. Pix already accounts for over 40% of all electronic transactions in the country, and Matera alone processes over five billion a year, nearly half initiated by scanning a QR Code.This has helped the startup grow 4x since 2020, achieving $77 million in revenue for 2023, while maintaining a strong profitability profile.With the backing of US investor Warburg Pincus - which, according to TechCrunch, is acquiring a majority stake - Matera is now looking to make inroads in North America.Its flagship offering for North America is called Digital Twin, a ledger built to work on top of banks’ existing core platforms.It is also offering its payments solution that enables billers and merchants to present QR Codes to be paid by mobile phone. It also powers consumers to generate QR Codes from a mobile app to make payments.Carlos Netto, CEO, Matera, says: "PIX set the standard for the digital finance revolution. At Matera, we know first-hand the pressure for banks to modernize their infrastructure to keep up with innovative new payment methods such as instant payments and pay-by-bank. "We’re honored to leverage our PIX expertise with proven solutions to help financial institutions across North America keep pace with their customers’ digital demands."