Brazilian exchange receivables firm Cerc is set to raise about $100 million from venture capital funds as the financial technology company prepares for an initial public offering , its founder and chairman told Reuters.
Maziero's comments come at a time when Cerc's business has been increasing rapidly, supported in part by changes introduced by Brazil's central bank in June last year making it mandatory to register credit card receivables on electronic platforms. At the same time, Cerc has been making progress in other businesses, such as its clearing house and central depository for assets which should be operational by the end of the year.
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