Dock, an innovator in financial technology infrastructure across Latin America, announced today 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 ofthe first quarter of this year, and in Quito, Ecuador, and Santo Domingo, Dominican Republic, later this year. The launch of Dock’s local operations solidifies the company’s position as the largest payments 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 for card processing in the Latin American region.1
Dock also saw substantial organic growth in 2021 within the areas of active accounts, clients and talent. Growth highlights, year over year:
- Total monthly active accounts processed in December 2021 increased 55% to 48.4 million
- Active digital banking accounts increased 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 biggest, most modern fintech partner available in Latin America,” says Antonio Soares, Chief Executive Officer of Dock. “We’re proud of the momentum we’ve gained over the last year and look forward to our continued growth in 2022. Our expanded operations in the Latin American region will give us access to new partners and talent, as we make a more robust investment in our technology and people to deliver an unmatched experience to our customers.”
As part of its Latin American expansion, Dock has elevated the co-founders of Cacao, the Mexico-based payments infrastructure company which Dock acquired in December 2021, to its executive 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 across all countries, including Brazil. Jorge Alvarez, co-founder and former CEO of Cacao, will assume the role of Latin American Expansion Officer, in which he will oversee all of Dock’s regional office launches and operations.
“Our mission is to enable our clients 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’re focused on enabling clients of all sizes and sectors, from banks to fintechs to embedded 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 Dock
Dock is a leading provider of modern financial technology infrastructure in Latin America. Dock unlocks business value, innovation, and scalability for its customers by offering Card Issuing, Digital Banking and Acquiring through its comprehensive platform. Dock’s modular solutions enable mission-critical processes that accelerate a company’s ability to bring new digital payments and banking services to market. The end result is a wider array of innovative products, greater consumer access to financial services, and improved customer experiences.
Dock powers 49 million active accounts and more than 5 billion annual transactions through its cloud-based platform, reducing the operational and regulatory burden and offering other valuable tools through its partner ecosystem to clients, so that they can focus on their end-user experience.
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1 Americas Market Intelligence, Card/Payments Processing & Banking-as-a-Service Market Read – Latin America, September 2021
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