Kueski, an online lending company offering real-time, micro loans to Mexican consumers, closed a US$35m round of equity and debt funding.
The round, which has the potential to increase to US$100m in total funding, was co-led by Richmond Global Ventures, Rise Capital, CrunchFund and Variv Capital, with participation from Victory Park Capital and existing investors Angel Ventures Mexico, Core Ventures Group and Auria Capital. In conjunction with the funding, Peter Kellner, managing partner of Richmond Global Ventures and co-founder of Endeavor Global, will be joining Kueski’s Board of Directors.
The company will use the funds to accelerate portfolio growth, expand its team and extend its brand presence throughout the region.
Founded in 2012 by Adalberto Flores, CEO, Kueski is an online lender for the middle class of Mexico, which enables users to apply for a loan online and applies big data and machine learning to users’ credit history, their digital presence and other online information available to build a credit risk model that will approve or reject loan applications.