Kushki reaches unicorn status with $100m funding
By Edlyn Cardoza
Kushki, the payment technology company that connects LatAm through payments, recently 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, including Kaszek Ventures, Clocktower Ventures, SoftBank Latin America Fund and DILA Capital, among others, and brings the total amount raised in the combined Series B to $186 million.
Kushki has established itself as a key payment player in the region, with the latest investment following a year when Kushki reported 200% growth in 2021. “Reaching this milestone in times of historical economic uncertainty speaks to the quality and resilience of our entire team and the enormous Latin American talent that exists in the region”, says Aron Schwarzkopf, CEO and co-founder of Kushki.
Kushki’s payment platform helps businesses across the region 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 customised solutions for clients in each country.
The new funds will accelerate Kushki’s development of a modern payment infrastructure for Latin America that facilitates payment transactions of any type in any country. This infrastructure will play a key role in accelerating the region’s digital transformation and economic growth by enabling businesses to grow faster online and driving consumer adoption of digital payments.
“We are excited to continue backing the entire Kushki team. Over the past few years, they have shown an outstanding ability to execute and to attract the best customers and talent in the region. We believe Kushki is just getting started in its mission to connect LatAm with efficient digital payments,” says Hernan Kazah, Managing Partner at Kaszek, Kushki investor since early 2020.
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