Conductor, a Brazilian payments startup, has raised $150 million in a new round led by hedge fund Viking Global Investors, with additional participation from Sunley House Capital, a subsidiary of private equity juggernaut Advent International. The two new institutional investors join existing shareholders in Conductor including venture capital firm Riverwood Capital and payments giant Visa.

With the new round, Riverwood Capital remains a controlling shareholder in Conductor. The venture capital firm purchased the company in its entirety in 2014 and has since guided it through significant expansion. Now, Conductor is targeting a possible public listing on a US stock exchange, as noted by the company’s chief executive, Antonio Soares.

Conductor is a payments firm that provides banking infrastructure for other banks and fintech companies. It’s itself a platform that serves as a backend for other fintech apps and services, currently powering over 85 million accounts that process more than $20 billion each year across Latin America. The company majorly does business in Brazil but embarked on international expansion this year into Mexico, Ecuador, Peru, Colombia, and Argentina. 

Conductor has expanded both by organic growth and external acquisitions such as Muxi, a point-of-sale startup that it acquired just in July this year. Conductor says it’ll use its new capital to further accelerate international expansion and product development.

The valuation that came with the new funding round isn’t disclosed. Investment bank Goldman Sachs acted as the financial advisor for this new round. 

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