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Kushki

www.kushkipagos.com link_icon

Company Research Report



Company Overview



Name: Kushki

Mission: To connect Latin America through payments by providing modern, efficient, and secure payment solutions capable of accelerating businesses and opening new markets.

Founded By: Aron Schwarzkopf and Sebastián Castro

Founded Year: 2017

Key People:
  • Aron Schwarzkopf, Co-founder & CEO

  • Sebastián Castro, Co-founder


Headquarters: Quito, Ecuador

Number of Employees: 750

Revenue: No information is available

Notable Achievements:
  • Kushki is known for being an innovative company in the Latin American fintech space, focusing on payment solutions. It has achieved unicorn status with a valuation over $1 billion and expanded its presence to multiple countries, including Ecuador, Colombia, Peru, Chile, and Mexico.


Products and Services



Payment Processing


  • Description: Comprehensive platform to handle various payment methods including credit and debit cards, wire transfers, and cash.

  • Key Features: Accepts domestic and international payments, integrates multiple payment methods, and offers high-security standards to reduce fraud.


Recurring Charges


  • Description: A system that enables businesses to automatically or on-demand process recurring payments for their products or services.

  • Key Features: Customizable billing periods, adjustable to single or variable price amounts, and automatic charge processing.


Kajita


  • Description: An online payment form optimized for e-commerce.

  • Key Features: Responsive design, high security through tokenization and machine learning, supports various payment methods including credit and debit cards, transfers, and cash.


Smartlink


  • Description: A solution for fast, dynamic, and decoupled payment processing.

  • Key Features: Ease of use, adaptability across multiple communication channels, enhances visibility and manages decentralized payments.


Wire Transfer


  • Description: Facilitates receiving wire transfers with fewer steps for an improved user experience.

  • Key Features: Simplified process, unified control through a console, and trust and reliability among customers.


Cash Payments


  • Description: Allows businesses to receive payments in cash through major cash networks in Latin America.

  • Key Features: High acceptance rate, security, real-time transaction data, and suitability for all industries.


Recent Developments



New Partnerships and Collaborations


  • Implemented a personalized wallet solution named Rappi Pay in Colombia, significantly enhancing their market reach.

  • Migrated 80% of precursor collection channels to Kushki's platform, opening new business lines and expanding payment methods for Justo.


Recognition and Awards


  • Acknowledged by various fintech press outlets for its pivotal role in the digital payment transformation in Latin America.

  • Became the first non-bank regional acquirer, certified by DF Sud in Chile and registered with the Comisión Nacional Bancaria y de Valores (CNBV) in Mexico.


Funding and Expansion


  • Raised $86 million in Series B funding, with an additional $100 million extension, totaling $186 million.

  • Achieved a valuation of $1.5 billion, making it the first Ecuadorian unicorn.

  • Expanded operations to cover five countries: Ecuador, Mexico, Peru, Colombia, and Chile.


Key Milestones


  • 2016: First transaction processed.

  • 2017: Entered Colombian market.

  • 2019: Launched in Peru and Chile.

  • 2021: Reached 500 employees and initiated global operations.

  • 2022: Reached unicorn status with significant funding and further expansions.


Challenges and Opportunities


  • Challenges: Navigating economic uncertainties in Latin America and consolidating fragmented and low-tech financial systems.

  • Opportunities: Rapid growth in digital payments, expanding financial inclusion, and leveraging technology to streamline payment processes across multiple regions.


Kushki continues to be a driving force in the payment solutions landscape across Latin America, demonstrating significant growth and maintaining robust security and reliability standards in their operations.