Latin America based fintech startup Kushki Pagos acquires fintech QVO to expand into Chile
Kushki Pagos, a payments processing platform that standardizes local payment features and conversion rates across borders in Latin America, acquired Chilean fintech startup QVO, a platform that gives SMEs access to online payment solutions. With this acquisition, Kushki Pagos plans to expand into Chile, a country with the most demand for digital business.
Founded in 2015 by Aron Schwarzkopf and Sebastian Castro, Kushki is a payment platform tailor-made for Latin America that uses local logic and pricing and can be rapidly integrated. Kushki is a payment platform that standardizes local payment features and conversion rates across borders in Latin America. The platform helps merchants of all sizes navigate the complex and inefficient payment ecosystem within Latin America, providing standardized payments across borders. Founded by seasoned fintech entrepreneurs and payment executives in New York, Kushki is bridging the payments gap in a rapidly-transforming region.
“We’re excited to acquire QVO to expand into Chile and help make it easier for businesses to accept payments online,” said Sebastian Castro, co-founder of Kushki Pagos. The platform helps merchants of all sizes navigate the complex and inefficient payment ecosystem within Latin America, providing standardized payments across borders.
“Chile has a population with the most demand for digital businesses in the region, but at the same time it’s one of the least advanced in providing the payment tools necessary to scale digital businesses. We decided to invest because we saw an opportunity to deliver a fast and significant impact to entrepreneurs and startups in the local market’s digitization process,” said
Aron Schwarzkopf, co-founding partner of Kushki Pagos.
Both Kushki Pagos and QVO are part of Magma Partners’ portfolio, a Latin American venture capital firm that invests in early-stage Latin American startups. QVO also had previous investment from Devlabs.
“Magma originally invested in QVO when it was a Stripe clone in Chile, understanding that we would help them get acquired by similar, regional businesses. In the end, Kushki acquired QVO and we invested in Kushki to continue to help them expand across the region,” said Nathan Lustig, Managing Partner at Magma Partners.
Kushki Pagos plans to continue to expand its platform across Latin America. Founded by seasoned fintech entrepreneurs and payment executives in New York, Kushki leverages a team of experts that intrinsically understands Latin America in order to provide a global standard for sending and receiving payments in the region.
Cross-border payments have plagued Latin America for decades, but Kushki provides a solution that solves many of these issues. The company works tirelessly to facilitate online payments and become one of the pillars of a safer and more transparent business environment in Latin America.
Many of Latin America’s top companies – including Rappi, Cabify, and Telefonica – use Kushki every day to run and scale their businesses in the new digital era. With offices in Ecuador, Colombia, Chile, Peru, and Mexico, Kushki provides a single payments API that functions across the Latin American region.