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Payments General

Kushki Pagos acquires QVO to expand into Chile

Thursday 8 August 2019 | 11:12 AM CET

Kushki Pagos has acquired the Chile-based fintech company QVO to expand into Chile.

Both companies belong to the portfolio of Magma Partners, a Latin American VC company, which worked as the intermediary, making the acquisition possible.

The company invested in both startups in late 2018. Both were inspired by US payment startup Stripe with QVO from Chile and Kushki operating in Colombia, Mexico, and Ecuador.

Kushki aims to reduce the use of cash in Latin America by offering businesses integral technology so that they can make payments.

According to Conxto, payments is one of the most active industries in Latin America, with a very fragmented market and flooded with alternatives.

More: Link
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