The Ecuadorian “unicorn” and payment platform Kushki will buy the startup Billpocket to expand in Mexico.
Ecuadorian “unicorn” Kushki, an online payment platform serving Latin America, will buy Mexican startup Billpocket , Kushki said on August 17, 2022.
The acquisition is part of Kushki’s strategy to triple its growth in Mexico in the coming months.
Kushki, which expanded into Mexico in 2020, said the purchase of Billpocket and its portable credit card terminals will complement its current services.
The companies did not disclose the price of this purchase.
“Now, with our combined technology and experience, we will be able to work with more partners throughout the region, helping the Paytech ecosystem to keep growing,” said Billpocket CEO Alejandro Guízar.
Billpocket faces competition from Clip and MercadoLibre’s affiliate MercadoPago , which have also launched mobile terminals in Mexico.
Kushki earned coveted “unicorn” status earlier this year after reaching a valuation of more than $1 billion.
The Ecuadorian startup also operates in Peru, Colombia and Chile.
The company said regulators had already approved the Billpocket purchase.