SÃO PAULO–(BUSINESS WIRE)–March 14, 2022–
Dock, an innovator in fintech infrastructure in Latin America , today announced the launch of new regional offices and key growth milestones. The new offices are located in Mexico City, Mexico; Lima, Peru; Santiago, Chile; and Bogotá, Colombia. Dock is also setting up operations in Buenos Aires, Argentina, by the end of the first quarter of this year, and in Quito, Ecuador, and Santo Domingo, Dominican Republic, later this year. The launch of Dock’s local operations strengthens the company’s position as the largest payment infrastructure provider in Latin America. This expansion follows a series of recent acquisitions and is part of the company’s plans to tap into the $16 billion total addressable market for banking as a service and the $2.5 billion total addressable market. dollars for card processing in the Latin America region. 1
Dock also saw substantial organic growth in 2021 in the areas of active accounts, customers and talent. Growth highlights, year over year:
- Total monthly active accounts processed in December 2021 increased by 55% to 48.4 million
- Active digital bank accounts increased by 380%
- Dock’s team grew by 72%, with over 700 new hires, expanding its global team to over 1,700 employees
“Dock is now the largest and most modern fintech partner available in Latin America,” says Antonio Soares, CEO of Dock. “We are proud of the momentum we have gained over the past year and look forward to continued growth in 2022. Our expanded operations in the Latin America region will give us access to new partners and talent, as we increase investment in our technology and people to deliver an unparalleled experience for our customers.
As part of its expansion into Latin America, Dock has elevated the co-founders of Cacao, the Mexico-based payments infrastructure company that Dock acquired in December 2021, to its leadership team. Gerardo Bonilla, co-founder and former president of Cacao, will assume the role of chief revenue officer at Dock and will lead Dock’s sales and business operations in all countries, including Brazil. Jorge Alvarez, co-founder and former CEO of Cacao, will assume the role of expansion officer in Latin America, in which he will oversee all launches and operations of Dock’s regional offices.
“Our mission is to enable our customers to democratize access to the financial system for millions of unbanked and underbanked people in Latin America,” said Gerardo Bonilla, Chief Revenue Officer of Dock. “We are focused on supporting clients of all sizes and across industries, from banks to fintechs to integrated finance initiatives. The opening of our regional operations will accelerate our efforts to reach and serve more customers in the region.
To learn more about Dock, please visit: https://dock.tech/
About the dock
Dock is a leading provider of modern fintech infrastructure in Latin America. Dock unlocks business value, innovation and scalability for its customers by offering card issuance, digital banking and acquiring through its comprehensive platform. Dock’s modular solutions enable critical processes that accelerate a company’s ability to bring new digital payments and banking services to market. The end result is a wider range of innovative products, better consumer access to financial services and an improved customer experience.
Dock powers 49 million active accounts and over 5 billion annual transactions through its cloud-based platform, reducing operational and regulatory burden and offering other valuable tools through its partner ecosystem to customers, so they can focus on their end-user experience.
1 Americas Market Intelligence, Card/Payments Processing & Banking-as-a-Service Market Read – Latin America, September 2021
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220314005098/en/
CONTACT: Maricela Rios
KEYWORD: UNITED STATES SOUTH AMERICA NORTH AMERICA BRAZIL NEW YORK
KEYWORD INDUSTRY: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY FINANCE SOFTWARE BANK
Copyright BusinessWire 2022.
PUBLISHED: 03/14/2022 06:00 AM/DISC: 03/14/2022 06:02 AM
Copyright BusinessWire 2022.