Ecuadorian Kushki, the payment technology company that connects LatAm through payments, today announced a $100 million extension of its Series B fundraising at a valuation north of a billion dollars. The latest round includes participation from new and existing investors such as Kaszek Ventures, Clocktower Ventures, SoftBank Latin America Fund and DILA Capital, among others, and the collection of their Series B, announced in 2021, reaches US $186 million.
Kushki has established itself as a key payment player in the region with the latest investment following a year where Kushki reported 200% growth in 2021.
“Reaching this milestone in times of economic uncertainty is evidence of the quality and resilience of our entire team and the tremendous Latino talent that exists in the region,” says Aron Schwarzkopf, Kushki’s CEO and Co-Founder.
Kushki’s world-class payment platform helps businesses across the region to reduce the cost and complexity of payments online while improving acceptance rates and reducing fraud. Today, the company employs 750 people, operates in 5 countries, and leverages local teams to deliver customized solutions for clients in each country.
The new funds will be used to accelerate Kushki’s evolution to a modern payment infrastructure for Latin America, facilitating digital payment transactions regardless of the country. This infrastructure will play a critical role in accelerating digital transformation and economic growth in the region, enabling businesses to grow faster through the internet to drive consumer adoption of digital payments.