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Kushki: As a unicorn company we seek to build a core digital payment infrastructure throughout Latin America

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The fintech (fintech companies) in Ecuador are increasingly making their way, gaining momentum by being a strategic ally of traditional banking. According to figures from The Networkthere are 63 fintech in the country that generate 1,381 jobs; Of these, 18 have gone international, 11 have women founders and one, Kushki, managed to become the first unicorn in Ecuador, that is, a company valued at more than a billion dollars. Javier Castro, Vice President of Ecuador and Colombia for Kushki, reveals the details of how this company reached this valuation and its growth expectations.

When was the Kushki company founded?

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Kushki was founded in 2016 by Ecuadorians Aron Schwarzkopf and Sebastián Castro. Its mission is to connect Latin America through digital payments and enable entry into the new era of monetary flow. Added to this was the purpose of helping other companies in the region reduce the costs and complexity of digital transactions, increasing acceptance rates and reducing the risk of fraud.

What services does Kushki offer?

Kushki is a paytech which offers payment processing services adapted to the needs of each client and to national regulations to help companies receive their digital payments. This is a sector that will continually increase its demand and portfolio in the coming years, as e-commerce consolidates in Latin America.

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Kushki becomes the first paytech company qualified as an aggregator by the Central Bank of Ecuador

What strategy did they follow to become a unicorn company and be valued at more than $1 billion?

Kushki managed to enter the unicorn category after reaching a valuation of over $1 billion, after securing a $100 million extension to its Series B funding round. The latter includes participation from new and old investors, including Kaszek. Ventures, Clocktower Ventures, SoftBank Latin America Fund and DILA Capital, among others, bringing the combined Series B total raised to $186 million.

This milestone was reached just five years after the founding of the company, which has established itself as a key payment ally in the region, demonstrating the great capacity that exists in Latin America to create the best businesses and attract investment to the region. region.

How many Ecuadorian companies considered unicorns are there currently in Ecuador?

Kushki is the first and only Ecuadorian venture that has managed to enter the unicorn category. The company hopes to promote and consolidate the entrepreneurial ecosystem at the regional level, with the certainty that more success stories will emerge in the country that will follow in its footsteps.

What are the expectations of the company after being classified as a unicorn?

By entering the unicorn category, Kushki hopes to boost the development of its commercial offering to meet the goal of building the core infrastructure for digital payments in Latin America, which will play a key role in accelerating digital transformation and economic growth of the region. In this way, the company will enable faster growth through the Internet for companies, driving the adoption of digital payments by the consumer.

Likewise, the organization hopes to expand its presence in other countries of the region. Finally, it will bet on consolidating the great talent of its human team, considering that the most important resource is the people who work with the company every day. In line with this, Kushki is committed to attracting and retaining the best human talent, thus contributing to the fulfillment of its objectives and the growth of the region. (YO)

Source: Eluniverso

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