US Payments startup Stripe expands into Latin America

LatAm ListStripe, a US multi-billion dollar online payments startup, recently announced it will be opening an office in Mexico City to attract engineering talent and benefit from the mobile-payment and e-commerce surge in the region. Other payments processing startups like Kushki Pagos, are also unlocking the region’s potential.

“Stripe’s expansion to Mexico shows Latin America’s potential for growth in electronic payments. We believe there’s a regional opportunity to help startups and businesses accept payments from Mexico to Chile, Brazil to Colombia,” said Aron Schwarzkopf, CEO of Kushki Pagos.

Stripe’s valuation stands at $22.5B thanks to investments from Tiger Global, Andreessen Horowitz, Peter Thiel, Elon Musk, Google’s venture arm Capital G, Sequoia Capital and Kleiner Perkins, among others. 

Stripe’s CBO William Alvarado, originally from Honduras, explained the opportunity the company saw in the region. 

“Our goal is to make sure that the internet works the way it was intended to — it should be global, and it should be borderless,” Alvarado told CNBC in a phone interview. “There’s a very rich ecosystem for us in Latin America.”

Stripe already operates in 34 countries and has engineering hubs in San Francisco, Seattle, Dublin, and Singapore.

Read more on CNBC.

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