Tech

Mexican BNPL costume Kueski raises $ 202 million in debt and capital

Mexican online lender and BNPL provider Kueski has raised $ 202 in a debt and equity round led by StepStone Group.

OnePrime Capital, Glisco Partners, Altos Ventures, Cometa, Richmond Global Ventures, Cathay Innovation, Rise Capital and Angel Ventures Mexico have participated in a $ 102 million stake. Victory Park Capital led a $ 100 million debt loan.

Mexico has the fifth highest percentage of citizens without a bank account in the world, with nearly 90% of retail transactions being conducted in cash.

Due to the surge in installment popularity around the world, Kueski Pay BNPL products have increased their total volume by 210 times over the past 12 months.

The company will recently roll out BNPL products in physical stores, launching a mobile application that allows users to view their profiles, manage payments, and browse partner stores.

Adalberto Flores, CEO of Kueski, said: “Our goal is to connect the entire Mexican retail economy, even if consumers don’t have a bank account, credit card, or credit history.

“Kueski Pay allows consumers to defer payment costs over time without expensive credit cards or bank loans, allowing merchants to enter entirely new markets and increase sales.”

Mexican BNPL costume Kueski raises $ 202 million in debt and capital

Source link Mexican BNPL costume Kueski raises $ 202 million in debt and capital

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