MIAMI - Web-based payment processing startup, BlueKite acquired RedCycle Networks, a developer of bill-payment technology solutions in Latin America. In addition to the proprietary bill-payment technology platform developed by RedCycle Networks, the company has completed integrations with local billers including utilities and telecommunications companies in Mexico, Guatemala, El Salvador and South America.
Financial terms of the deal were not disclosed.
Headquartered in Miami, BlueKite will leverage RedCycle Networks technology to provide more options to millions of consumers who emigrated and still support friends and families back in their home countries. The company already offers cross-border bill payment for services in countries including Mexico, Guatemala, Honduras and El Salvador and is currently developing integrations into other emerging markets in Africa, South America and South East Asia.
Recently the company announced a $1.5 million seed round led by the founding team and PeopleFund.