Latin American Paytech Kushki Buys Mexico's Billpocket

Latin American payments solutions provider Kushki is nearing the completion of its deal to acquire a fellow paytech in Mexico, Billpocket.

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For Kushki, this acquisition is "a key element" in its plan to have a threefold growth in the country in the coming months.

Aron Schwarzkopf, CEO and co-founder of Kushki, said the two firms "share a commitment to democratise payments in LatAm through new tech infrastructure". He described the deal as "a very natural fit" for both Kushki and Billpocket and expects "great things to come from it".

The acquisition comes hot on the heels of Kushki's latest funding round – Series B extension​ – that reeled in $100 million and a unicorn status.

Kushki was founded in 2017 and is based in Ecuador. It provides payment integration and processing services in five countries (Chile, Colombia, Ecuador, Mexico and Peru) and employs 750 people. 

The paytech views Mexico as "a key market", as it's the second largest economy in Latin America – with the country's e-commerce sector expected to be worth $146 billion by 2025.