Kueski announces $1b loan transactions
By Edlyn Cardoza
Buy-Now, Pay-Later (BNPL) and online consumer lenders in Latin America, Kueski recently announced a successful expansion of its loan transactions totalling nearly $1 billion with one million consumers and six million loans. By leveraging its AI and ML-powered credit decisioning model to expand access to financial products, Kueski has emerged as a market leader in Mexico and one of the fastest-growing FinTechs in Latin America.
The Company’s mission is to expand access to traditional financial services and products. It now serves customers via Kueski Pay, its BNPL solution; Kueski Cash, the FinTech’s inaugural cash loan product; and Kueski Up, an earned wage advance product that allows employees to advance their payroll interest-free.
“The $1 billion figure shows impressive growth, but the real impact we are having on people’s financial situation is much more impressive,” said Adalberto Flores, founder and CEO of Kueski. “We’re delivering on our mission to help customers meet their financial needs no matter the stage of their financial journey.”
In Q4 2021, Kueski launched its BNPL product in brick-and-mortar stores. With the support of 1% of its merchant network, Kueski Pay Instore is now offered in almost 600 stores throughout Mexico – and will soon be offered by hundreds more as the rollout continues over the next few months. The Company also launched a dedicated app that allows users to check their profile, manage payments, and browse partner stores, increasing transparency and ease of use.
In addition to expanding and growing its products, Kueski continues to focus on building a team dedicated to supporting its mission and values. Earlier this year, the Company announced the appointment of Krishna Venkatraman as chief data officer, who previously held leadership positions at Mission Lane and Nubank. Alex Schleifer, Airbnb’s former chief product designer, joined Kueski’s Board of Advisors. Venkatraman and Schleifer joined the team to amplify the company’s data-first capabilities and further improve the customer user experience.
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