Mexican financial services platform Billpocket has been recently acquired by Kushki (backed by Softbank)
Axon has recently executed an excellent divestment in Billpocket, one of Mexico’s leading card payment processing companies. Online payment processing technology company Kushki has acquired the stake, a recent unicorn owned by Softbank, to accelerate its expansion plan in the country.
The online-offline pairing will make the company one of the most competitive businesses in the region, providing Latin American merchants with broad access to financial services, and competing with the region’s large financial institutions.
Axon bet on the company in 2019 through the Impact fund Amerigo Ventures Pacifico, allowing Billpocket to consolidate itself as one of the leading Fintechs in the Mexican market.
Billpocket has a winning model in a market with a lot of potentials. It has an exceptional entrepreneur (Alex Guizar) who has been able to consolidate a disruptive service and weather the most complicated stages of the pandemic, which significantly affected many of Billpocket’s customers.
This investment reflects well Axon’s philosophy of investing in growth capital in innovative companies, always betting on great tech entrepreneurs with sustainable businesses and reaffirming, in this case, its commitment to the Latin American region.
Through a mobile point of sale terminal, it is a platform that enables merchants to receive electronic payments, either by credit card, debit card, prepaid, affiliated wallets and even CoDi.
Axon is a global investment and consulting firm focusing on technology and innovation. The company has 90 professionals covering Europe, the Americas and MENA. Axon was listed on the Madrid Stock Exchange (BME Growth) with a listing price of €19.10, which determined a market capitalisation of over €100mn.