Kueski
“Can a Mexico-native BNPL+consumer-credit platform own checkout financing for a country where most consumers lack credit cards?”
Founded2012
HQGuadalajara, Jalisco, Mexico
FoundersAdalberto Flores Ochoa
Total raised$300M+
Latest roundSeries C, 2021 ($202M equity + debt)
IndustryFintech / Lending
The story
Founded 2012 as an online short-term personal lender (Kueski Cash) using ML on alternative data — cash flow, sociodemographic, device — to underwrite Mexico's underbanked population. Pivoted into BNPL with Kueski Pay around 2020, which became the flywheel product: 210x GMV growth into 2021, now embedded as a checkout option at Walmart Mexico, VivaAerobus and a quarter of Mexico's top e-tailers. The company has essentially become Mexico's domestic answer to Affirm/Klarna, with consumer cash loans as a secondary product alongside merchant-side BNPL acquiring.
Last 12 months
—
Product timeline
2012
Founded in Guadalajara by Adalberto Flores Ochoa as an online consumer lender using alternative data for underwriting.· lending
2019
Series B led by Altos Ventures.· funding
2020
Launch and rapid scaling of Kueski Pay BNPL product (210x YoY GMV growth Nov 2020-Nov 2021).· lending
2021
Series C of $202M (equity + debt) led by StepStone Group and Victory Park Capital.· funding
2024
Surpassed 16M+ loans issued in Mexico; Kueski Pay integrated with Walmart, VivaAerobus, Motorola, Steve Madden, Xiaomi and ~25% of Mexico's top e-commerce merchants.· lending
Regulated entities
1
regulatory licence held by Kueski
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
2 layers disclosed in Kueski’s embedded-finance stack
Payments / PSP
Kueski Pay (self-operated)
Lending
in the full report
Accounting gap: none
3 more providers across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.