Financial technology infrastructure provider on track to surpass $1B in Total Payments Volume in 2020
NEW YORK--(BUSINESS WIRE)--Arcus, the banking infrastructure provider powering the future of fintech, today announced major financial and growth milestones. In 2019, the fintech infrastructure company processed more than $400M in annual Total Payments Volume (TPV), nearly doubling its 2018 total. Arcus also achieved banner revenue growth in 2019, doubling its annual revenue from the year prior.
“The past year’s growth is representative of several key strategic moves but also reflects a larger industry-wide trend: the need to provide an exceptional customer experience,” said Edrizio De La Cruz, CEO and Co-Founder of Arcus. “We’re focused on evolving the payments ecosystem to provide an optimal user experience, making it smarter, faster, more centralized and automated. In turn, this enables financial institutions and merchants to empower people to manage and automate their payments in one place.”
Arcus is the payments infrastructure behind some of the largest financial institutions in the U.S. and Latin America, including BBVA Bank, Happy Money, Truebill and more. Arcus’ API enables banks and fintechs to integrate directly with merchants’ payment channels, making it possible for customers to easily make payments due to the merchants through digital applications. Currently partnering with 1,100 merchants across the U.S., Mexico and the Dominican Republic, Arcus plans further geographic expansion into seven other countries in Latin America this year.
“Our growth during the past year is exciting but we are projecting even more aggressive growth for 2020. We’re on track to cross a major milestone of $1B in Total Payments Volume by the end of the year,” De La Cruz added. “It is likely that number will increase, too, as more and more non-fintech businesses are expanding into the financial technology industry to capture new revenue opportunities. These are ideal partnerships for Arcus, as our technology is specifically designed to help businesses launch modern payment experiences for their customers, regardless of industry.”
To date, Arcus has helped several non-fintech businesses launch fintech enterprises across the Americas, including 7-Eleven, Walmart, Santander and Rappi.
Arcus is the only financial technology company dedicated to evolving banking infrastructure to provide an optimal user experience. We’ve built a smarter, faster, more centralized and automated recurring payments infrastructure,, enabling financial institutions and merchants to empower people to manage and automate their recurring payments in one place. The high growth startup is powering the future of fintech for some of the U.S. and Latin America’s top financial institutions and merchants. Since being founded at Y-Combinator in 2013, Arcus partners include Ignia, Maverick, Winklevoss, Initialized, HOF and Kapor.
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