Kushki, backed by GED Capital's Conexo Ventures fund, reaches USDDS600m valuation
Kushki, a Latin American Fintech backed by GED Capital's Conexo Ventures fund, has closed a Series B investment round of USD86 million, reaching a valuation of approximately USD600 million, the largest in Latin American history.
The investment is focused on Series A investments in entrepreneurial teams set to become leaders in their fields in the US and Latin America.
Kushki's clients include large companies around LATAM such as Telefónica, Cabify, Uber, Rappi, OfficeMax, Nubank and SURA. These companies choose Kushki for its cutting edge technology, tailored service and higher payment acceptance rate.
Since it was founded four years ago, the payments platform has grown with a valuation of approximately USD600 million, the highest amount in a Series B round for a Latin venture-backed company. The round was led by Softbank, and Kaszek Ventures, as well as earlier investors such as GED Capital, through its Conexo Ventures fund, DILA Capital, and Magma Partners.
Kushki’s CEO Aron Schwarzkopf explains: "We have spent several years laying the foundations and rebuilding local payment pipelines in Latin America. Our vision is to provide state-of-the-art, standardized and scalable infrastructure across the region so that Latin America's digital economy can be installed on top of it for decades to come. The use of digital payments across the region has typically been a fragmented and primitive process due to a lack of investment in banking infrastructure. With this new funding, we will be able to accelerate the power of Kushki's infrastructure across Latam, democratising the movement of money for both businesses and consumers."