Kushki, a payments platform based in Ecuador, has raised $100 million in Series B financing at a unicorn valuation.
The round includes investors such as Kaszek Ventures, SoftBank Latin America Fund and Dila Capital among others, according to a statement on Wednesday.
“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,” CEO and co-founder Aron Schwarzkopf said in the statement.
Kushki’s core product line includes infrastructure to make it easier for businesses across the Latin American region to send, receive and process digital payments globally. The company said it will use the funding to accelerate the adoption of this infrastructure. Currently, it operates only in five countries in the region.
The news comes as investors continue to funnel capital into fintechs in the Latin American region. Last month, Brazilian fintech Dock raised $11o million at a $1.5 billion valuation. Alongside this, crypto players continue to look at the region actively with trading platform Huobi acquiring crypto exchange Bitex and Tether recently launching a new stablecoin pegged to the Mexican peso.