Celebrating its 10-year anniversary, Kueski continues to expand financial access across Mexico with its tailored product ecosystem
GUADALAJARA, MEXICO / ACCESSWIRE / March 1, 2023 / Kueski, the online financial ecosystem for consumers in Mexico, today announced that it has disbursed a record 10 million loans. With more than 1.8 million unique customers and more than $1.6 billion in loan transactions, this marks an important milestone for the company on its mission to expand access to traditional financial services and products for Mexican consumers.
Founded in 2012, Kueski has become a market leader in Mexico for buy now, pay later (BNPL) and online consumer lending. The company uses AI and Machine Learning-powered credit decisioning models to expand access to financial products and now serves customers via Kueski Cash, a cash loan product, and Kueski Pay, its BNPL solution. Both products continue to experience substantial growth:
- Kueski Cash: Kueski disbursed almost half a million loans since the beginning of 2023. This product has proven to be a valuable and popular resource for Mexican consumers who typically use the capital for investment, monthly expenses, health, and education.
- Kueski Pay: Kueski's online and brick-and-mortar retailer network across Mexico is approaching 10,000 merchants. More than 70% of these merchant partners declare they have attracted new customers by offering Kueski Pay, and over 80% state that they perceive their credibility has increased by incorporating this product as a payment method.
"Since Kueski's inception over a decade ago, we have been committed to improving the financial lives of consumers. It is incredible to see that we have now had an impact on 1.8 million customers, with most of them choosing Kueski for their first-ever financial experience," said Adalberto Flores, Founder and CEO of Kueski. "Our goal is to be the go-to provider of innovative financial solutions that meet consumers where they are, no matter how far along on their financial journey."
Kueski is mission-driven to improve the financial lives of Mexicans, and the data shows the company is succeeding. More than 50% of users say Kueski has provided them with their first financial services experience, and through the use of the Kueski Cash and Kueski Pay products, more than 40% of customers say that they have been able to access other types of financial products thanks to the credit history built using Kueski.
In addition to this loan landmark, Kueski celebrated its 10-year anniversary in December of 2022 and, this year, will once again be a Main Sponsor for Mexico's "HOT SALE," the country's largest sales campaign. "HOT SALE" is organized by the Mexican Association of Online Sales and offers access to discounts and exclusive promotions on a wide variety of products and services. Participating merchants that offer Kueski Pay empower customers who do not have bank accounts to shop online and in store.
About Kueski
Kueski is one of the largest buy now, pay later (BNPL) and online consumer lending companiesin Latin America, providing financial services to consumers and connecting the Mexicaneconomy through its innovative product ecosystem. This ecosystem consists of Kueski Pay, thecompany's BNPL product available online and in-store, and Kueski Cash, its personal loansproduct. Founded in 2012 with the mission of making the financial lives of people in Mexicoeasier, Kueski leverages technologies such as artificial intelligence and big data to expandaccess to traditional financial products and services. To date Kueski has raised over $300million in equity and debt financing and, among its growing list of accolades, was recentlynamed to CB Insights' Fintech 250 List.
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SOURCE: Kueski
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