Kushki offers payment infrastructure via an API designed to make it easier, cheaper and more secure for LatAm businesses to send, receive and process digital payments. The company serves hundreds of customers, including Telefónica, Claro, Credijusto, Rappi and Santander. Today Kushki operates in five countries (Ecuador, Mexico, Peru, Colombia and Chile) and has a team of about 750 employees, roughly 70% of whom are product and engineering staff, with offices and staff across the U.S., Europe, APAC and Brazil. Management says the product can boost acceptance rates and reduce fraud while enabling businesses to accept payments globally and receive funds in local currency. Financially, Kushki reported 200% revenue growth over the past year and a quarter with 100% year-over-year growth, while declining to disclose absolute revenue figures. The company plans to use the new capital primarily to advance its mission to develop a modern payment infrastructure for Latin America that facilitates payment transactions of any type in any country. Kushki builds back-end financial infrastructure and a single API that enables card processing, bank transfers, digital cash, mobile wallets and other alternative payment methods for payment players. The company was founded in 2017 and is headquartered in Quito, Ecuador. Kushki already operates in Mexico, Colombia, Ecuador, Peru and Chile and customizes its approach country-by-country to meet differing regulatory and language needs. Founders Aron Schwarzkopf and Sebastián Castro previously built and sold a U.S. fintech called Leaf in 2014 and returned to Ecuador to start Kushki. The firm says it focuses on rebuilding local payments infrastructure to democratize and move money across markets. The recent fundraise will finance accelerated growth and geographic expansion, including a planned move into Brazil and nine additional Central American markets.

Total raised

$186M

Funding rounds

2

Latest round

Series B

Latest activity

Jun 2022