Matera has acquired a controlling stake in Cinnecta
October 2023 — Matera has acquired a controlling stake in Cinnecta from private shareholders, KPTL and Wayra VC funds and angel investors.
With over 30 years of experience, Matera is leading banking software company with world-class instant payments and core banking solutions. Matera’s core banking and Pix instant payments solutions are used by two out of the top three global banks, three of the top ten US banks and one third of all banks in Brazil. Over 300 million Pix instant payments are processed per month using Matera’s solution and 60 million of those are initiated by QR codes. Matera is also known for collaborating to launch innovative fintech applications that generate new revenue streams for its clients. With operations in both Brazil and the US, Matera has nearly 1,000 employees worldwide.
Founded in 2013 and headquartered in Belo Horizonte, Brazil, Cinnecta is an AI-powered data intelligence SaaS firm specialized in understanding customer behavior to identify opportunities for businesses to increase their lifetime value. Its platform transforms the way businesses assess customers’ possibilities to expand profitability and loyalty: campaign recommendations, next best offer (NBO), credit analysis, upsell, cross-sell and churn prediction.
Our role in the transaction
One of Oaklins’ teams in Brazil acted as the exclusive buy-side advisor in this transaction.
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