Kushki has garnered a valuation of $1.5 billion in the latest funding.

Kushki, the Ecuadorian platform facilitating digital payments for LatAm businesses, announced it had raised $100 million in an extended Series B round at a valuation of $1.5 billion. New and existing investors including Kaszek Ventures, Clocktower Ventures, SoftBank Latin America Fund and DILA Capital among others participated in the round. (Yahoo Finance)

The amount raised in Series B is now $186 million.

Kushki intends to use the funds to develop a modern payment infrastructure for Latin America that facilitates payment transactions of any type in any country, thereby accelerating digital transformation and economic growth in the region.

The fintech reported 200% growth in 2021, operates in 5 countries, and employs 750 people.

“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”, said Aron Schwarzkopf, CEO and co-founder, in a statement.

In the preceding quarter, Kushki grew by 100% year on year, according to Tech Crunch.

“Over the past few years, they have shown an outstanding ability to execute and to attract the best customers and talent in the region. We believe Kushki is just getting started in its mission to connect LatAm with efficient digital payments,” said Hernan Kazah, Managing Partner at Kaszek, an investor in the company since early 2020.

Related Story: LatAm BNPL Provider Kueski Nabs $202M Series C Round