A few years ago, payments orchestration was an unfamiliar term to many large companies Juan Pablo Ortega spoke to. Now, Yuno's co-founder and CEO doesn't have to explain much.
“Perceptions have changed dramatically,” Ortega told TechCrunch. “Many large companies are now well aware of what payment orchestration is, and in fact some of them have started requests for proposals just for orchestration.”
These multinational companies typically use six payment providers, acquirers, and banks to cover their needs around the world, but Yuno says they only need one global payment orchestration provider. is. Payment orchestration is a way to integrate all these payment providers and financial institutions into a single layer, replacing the separate service technologies that global enterprises already use to facilitate each payment transformation. The company launched its product in October 2022, offering a wide range of payment methods (over 300 in fact) with fraud detection, one-click checkout, and advanced smart routing technology. .
TechCrunch caught up with a newly founded Colombian payments startup as it raised $10 million from leading investors including Andreessen Horowitz. Today, Yuno facilitates trade in more than 40 countries around the world, working with corporate clients such as McDonald's, Rappi, Avianca, and inDrive.
Yuno payment dashboard. (Image provided by Yuno)
The global payments orchestration market is expected to reach a value of nearly $7 billion by 2032. Particularly in Latin America, merchants looking to serve customers in other countries need to figure out how to collect different currencies or from customers who don't have them. credit card.
This potential opportunity is attracting companies from around the world to grab a piece of that pie, including Gr4vy, Plug, and Revio. Just as Yuno has raised capital from top investors, another Colombia-based company, Symetric, is developing payments infrastructure and is now backed by Goldman Sachs.
Many of Yuno's competitors focused on solving payment orchestration for small and medium-sized businesses, and not many were building infrastructure for large enterprises, Ortega said.
“We’re one of the few orchestrators that actually does integration around the world,” Ortega says. “Currently, we have over 150 of his integrations, giving businesses access to payment methods that require payment processors on every continent.”
Last year, Yuno caught the attention of leading investment firm DST Global Partners, which recently injected $25 million in Series A into the company. DST was joined by Andreessen Horowitz, Tiger Global, Kaszek Ventures and Monashes. The new funding brings Yuno's valuation to $150 million, Ortega said.
The funds will be used to solidify Yuno's presence in Asia, Europe and Africa, and to continue investing in building its payments infrastructure orchestration platform.
“We will continue to build our sales, product and technology teams through the majority of the first quarter,” Ortega said. “In addition to Latin America, we also have offices in New York and Singapore, so increasing our presence in these markets will be key this year.”