Unicorn Kushki Acquires Mexican Platform Billpocket

Ecuador’s payment technology company Kushki announced today that is has acquired Billpocket, a Mexican financial services platform that allows businesses to accept card payments. The transaction merges Kushki’s online expertise with Billpocket’s regional presence and know-how of in-person card payments.

"Since the moment we met Alejandro Guízar and his team at Billpocket, we were highly impressed not only with their expertise and knowledge of the card payment solutions, but also with how much we shared a commitment to democratize payments in Latin America through new tech infrastructure. That is why this acquisition was a very natural fit for both companies and we expect great things to come from it," said Aron Schwarzkopf, CEO and Co-Founder, Kushki.

Two months after reaching Unicorn status and following a 200 percent regional growth in 2021, Kushki continues its mission of connecting Latin America through payments with the development of innovative infrastructure for the region, said the company. The acquisition of Billpocket’s technology and offline payment infrastructure strengthens the Equatorian company’s consolidation in Mexico, as Kushki expects to grow by three times in the following months, according to Schwarzkopf.

Founded in Guadalajara, Billpocket has served the Mexican payments market for over 10 years, becoming one of the first aggregators in the country. Billpocket's over 170 employees will retain their jobs as the company will be part of a separate business unit within Kushki, said Alejandro Guízar, CEO and Founder, Billpocket.

"This is the result of our work for over a decade, focusing on empowering entrepreneurs across Mexico and allowing businesses to grow. We are aligned with Kushki's mission to connect Latin America with advanced electronic payment capabilities and now, with our technology and expertise combined, we will be able to work with even more partners across the region, contributing to the ever-growing paytech ecosystem," said Guízar.

Kushki’s intent to acquire Billpocket has already been approved by COFECE and the transaction is expected to be completed by October 2022. Further transaction details were not disclosed.

Kushki helps businesses reduce the cost and complexity of online payments, while improving acceptance rates and reducing fraud. With less than a decade of operations, Kushki operates in five Latin American countries, leveraging local teams to deliver customized solutions for clients in each country.