Kueski, the online financial ecosystem for consumers in Mexico, 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 claims it 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.
Adalberto Flores, Founder and CEO of Kueski, said:
“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. 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 has “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.”
As noted in the update, Kueski claims it is “one of the largest buy now, pay later (BNPL) and online consumer lending companies in Latin America, providing financial services to consumers and connecting the Mexican economy 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 Mexico easier, Kueski leverages technologies “such as artificial intelligence and big data to expand access to traditional financial products and services.”.