An Ecuadorian payment company Kushki hits unicorn status as it has announced the closing of its Series B funding round. Its new funding round, which collected $100 million, increased its valuation to over $1 billion.
Aron Schwarzkopf, CEO and co-founder of Kushki said, “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.”
The round saw participation from investors such as Kaszek Ventures, SoftBank Latin America Fund and Dila Capital among others.
Hernan Kazah, Managing Partner at Kaszek said, “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.”
The startup intends to use these funds to develop a modern payments infrastructure for all of Latin America and to facilitate digital transactions of any category, regardless of the category.
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Kushki believes this infrastructure will accelerate digital transformation and economic growth in the region by ‘enabling businesses to grow faster online and driving consumer adoption of digital payments.’
