Ume, a Brazilian payment services provider focused on small and mid-sized merchants, has secured a $15 million investment led by PayPal’s venture arm, along with contributions from NFX, Globo Ventures, and Clocktower Ventures. In addition to this equity funding, Ume has also obtained $20 million in debt financing from Verde, Itaú, and other creditors. The company plans to utilize this financial backing to enhance its sales, marketing, and technology infrastructure, as well as to expand its market reach. A key part of Ume's strategy involves improving its integration with Pix, Brazil's real-time payments system, which has gained significant popularity since its launch in 2020. Ume is capitalizing on the increasing demand for buy now, pay later services, with its offerings currently available through 6,000 businesses, reaching around 220,000 consumers. The startup's focus on providing flexible payment options aims to drive growth for small and mid-sized businesses in Brazil.
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