+64%

est. 2Y upside i

FinTechSeries A

Malga is an API to accept payments with multiple payment providers

Rank

#1277

Sector

Fintech

Est. Liquidity

~6Y

Data Quality

Data: Low

Malga is a high-risk early-stage bet on LatAm payment orchestration: the company has raised only $10.3M over 6 years with no disclosed revenue, and the estimated Series A post-money valuation of ~$27M implies a severe ~38% preference stack that subordinates common stock meaningfully.

Last updated: May 14, 2026

Bull (16%)+300%

Malga captures 0.5%+ of the $30B LatAm SAM, expands beyond Brazil into Mexico and Colombia, and raises a Series B at ~$120M valuation (~4.5x the estimated ~$27M Series A post-money) with ARR exceeding $5M and strong net revenue retention. Common stockholders reach ~300% upside only after clearing the $10.3M liquidation preference stack.

Base (51%)+80%

Malga grows steadily in Brazil, reaches ~$1.5–2M ARR by 2028, and raises a Series B at $50–60M (~2x estimated post-money), with modest regional expansion. Common stockholders see roughly 80% paper upside on the 2-year valuation horizon, though actual liquidity remains 4–5 years further out.

Bear (33%)-75%

Competition from Adyen, PayU, and emerging LatAm orchestrators intensifies; Malga fails to establish durable revenue before runway is exhausted, resulting in a down round, acqui-hire, or wind-down. With $10.3M in liquidation preferences senior to common, employee equity is largely wiped out.

Est. time to liquidity~6.0 years

Preference Stack Risk

severe

Funding Intensity

38%

With $10.3M in total liquidation preferences against an estimated ~$27M post-money Series A valuation, approximately 38% of the company's implied current value sits senior to all common stock.

Dilution Risk

high

As a Series A company with a long runway to liquidity, Malga will likely require 2–3 additional funding rounds, each diluting common by an estimated 15–25%.

Secondary Liquidity

none

At an estimated ~$27M valuation with no disclosed revenue and a LatAm-focused investor base, there is effectively no secondary market for Malga employee equity in the near term.

business — 1 role

View all 1 open roles at Malga →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Malga's data — designed to show you've done your homework.

  • 1

    “What is Malga's current ARR and net revenue retention, and what growth trajectory did the Series A term sheet underwrite for the next 18–24 months?”

  • 2

    “How does Malga's orchestration layer technically differentiate from Adyen's and PayU's own multi-provider routing features, and what are the measurable switching costs that lock in customers like Petlove and Privalia?”

  • 3

    “What is the fully diluted cap table post-Series A, what option pool percentage was reserved for new hires, and at what exit multiple does common stock actually clear the $10.3M liquidation preference stack to see a meaningful return?”

Community

Valuation Sentiment

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.