Magma Invests in Kushki

Kushki is a digital payments startup with expertise in financial technology and data security. They process more than $30M per year in online transactions, providing a simple and easy way for businesses to accept payments through the internet, mobile apps, and social media.

The Ecuadorian startup aims to reduce the number of cash payments in Latin America by offering a secure and easy-to-use service through which companies can accept online payments with efficient technology and reduced costs. Their innovative technology is the first of its kind in many Latin American countries and Kushki is the first platform to unite more than eight countries in the region under a single payment processor.

Kushki was founded in 2015 by Aron Schwarzkopf, Sebastian Castro, Madeleine Clavijo, and Daniela Espinosa. Kushki currently has offices in Europe, United States (New York, Boston), Ecuador (Quito), Colombia (Bogota), Chile (Santiago) and Peru (Lima), with headquarters in Brooklyn, New York.

Aron Schwarzkopf and Sebastian Castro began Kushki after their previous fintech business Leaf was acquired by Heartland Payment Systems in 2015. They decided to create Kushki to combat entrenched issues in their home country of Ecuador, and across the region.

Magma Partners is excited to invest and support Kushki’s growth into the Stripe for Latin America.