Mobile payments company YellowPepper, focused on the Latin American market, said this week it closed $19 million in a Series C funding round, bringing its total financing to date to about $34 million. The company said the round was led by LIV Capital, a Mexican venture capital firm, and included Mexico Ventures, which is managed by Sun Mountain Capital, Fondo de Fondos, International Finance Corporation/World Bank Group and a group of existing investors.
The Miami-based company recently launched Yepex, its mobile wallet solution, in Latin America, and the funding will fuel the product's commercialization. Banamex, the 2nd largest bank in Mexico, will launch a beta with users and merchants in Mexico, the company said.
Founded in 2004, YellowPepper says it enables over five million customers to execute over 30 million transactions per month in Latin America. Headquartered in Wynwood, the company has 68 employees in the region.