Ecuador-based payment technology provider Kushki raised $86m on Wednesday in a series B round backed by internet and telecommunications group SoftBank’s Latin America Fund.
The round valued the company at approximately $600m and also featured Dila Capital, Kaszek Ventures, Clocktower Ventures, Magma Partners and an unnamed growth equity firm.
Founded in 2017, Kushki has built payment processing software that enables companies to offer local and cross-border payment methods in Latin America. Its platform can accept multiple types of payment method including online payments, credit and debit cards and bank transfers.
The capital injection will fund Kushki’s recruitment activities across Latin America as well as its expansion into new geographic markets such as Brazil and Central America. It has now received $100m in funding altogether, according to TechCrunch.
The company had secured an undisclosed amount in series A financing in March 2020 from Dila Capital, Kaszek Ventures, Magma Partners, Clocktower Ventures and Conexo Ventures.