A couple of years ago, payments orchestration was a foreign term to many large companies Juan Pablo Ortega would speak to.
Today, Yuno has facilitated transactions in over 40 countries worldwide and is working with enterprise clients like McDonald’s, Rappi, Avianca and inDrive.
The global payments orchestration market is forecasted to reach nearly $7 billion in value by 2032.
Many of Yuno’s competitors focus on solving payment orchestration for small and medium businesses, and not many were building the infrastructure for large enterprises, Ortega says.
That new round of capital gives Yuno a valuation of $150 million, Ortega said.
The payment landscape in the Middle East and Africa (MEA) region is marked by significant fragmentation, with numerous payment providers and methods in each country, evolving regulations and diverse customer preferences.
This complexity is further compounded by challenges such as payment fraud, low checkout conversion rates, and high transaction failure rates.
Payment orchestration platforms streamline payment processes for merchants through unified payment APIs.
As merchants or companies launch their platforms, they often start by collaborating with one or two payment processing providers.
As their operations grow and expand into multiple regions, they onboard additional payment providers to meet their evolving needs.
Back in 2016, Netflix open-sourced Conductor, its microservices orchestration platform, but last December, it announced that it would discontinue maintaining it.
Thankfully, for the many companies that rely on it, the creators of Conductor had previously left the company to launch Orkes, a startup that provides an enterprise-grade microservices platform based on the open-source project.
As Orkes co-CTO Viren Baraiya told me, the project quickly became popular within Netflix.
Currently, Orkes offers Conductor as a fully managed platform on the customer’s cloud of choice, as well as a Conductor-based AI orchestration platform.
The founders of Orkes wrote a new playbook for building and operating complex, observable and large-scale applications when they helped create the Conductor open-source project at Netflix.
Netflix today announced that it is discontinuing its support for Conductor, a popular orchestration engine for microservices the streaming giant open-sourced in 2016.
While Netflix will no longer be maintaining this repo, members of the Conductor community have been active in promoting alternative forks of this project, so we trust that the health of the community will remain strong moving forward.”One of those companies is Orkes, a startup founded by the engineers who originally created the Conductor project while they were at Netflix.
The team plans to maintain in close relationship with the rest of the Conductor community.
“We are excited to work in partnership with the broader community to ensure that Conductor continues to thrive and this new chapter for Conductor OSS reflects the collective vision of this thriving community,” Orkes writes in its announcement.
This makes it easier for developers to add language models and machine learning inferencing to their workflows by leveraging Orkes’ pre-built integrations with services like Azure Open AI, OpenAI and Google’s Vertex AI.
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