LatamList – Kushki, a Latin American fintech revolutionizing payment infrastructure in the region, raised an $86M funding round– the highest valuation Series B in the history of Latin America. The startup is now valued at $600M.
The SoftBank Latin America Fund and an undisclosed global growth equity firm participated in this round, along with follow-on investments from DILA Capital, Kaszek Ventures, Clocktower Ventures, and Magma Partners.
“Kushki’s long-term vision and advanced technology infrastructure are well aligned with SoftBank’s vision of digital transformation in Latin America. We are impressed by the company’s rapid developments and recent accomplishments, including the outstanding number of large enterprises across the region leveraging its infrastructure,” said Carlos Medeiros, Partner at SoftBank Group International.
The new funding will be used to fuel an aggressive team expansion throughout the region, aiming to build one of the largest developer teams in the region with over 200 roles currently open for software engineer roles.
Kushki will also focus on growing into new markets including Brazil and Central America and consolidating its enterprise capabilities and product offering.
“Our vision is to provide cutting edge, standardized, and regionalized infrastructure so that Latin America’s digital economy can be installed on top of it for decades to come. Utilizing payments throughout the region has typically been a fragmented and primitive process because of the lack of investment in banking infrastructure.
With this new funding, we’ll be able to accelerate the power of the Kushki infrastructure throughout Latam, democratizing the movement of money for both businesses and consumers,” explained Aron Schwarzkopf, Kushki’s CEO.
