Kueski Appoints Jordan Olivier as Chief Financial Officer

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The company declined to reveal its current valuation or hard revenue figures, but CEO and founder Adalberto Flores told TechCrunch he expects it will “soon achieve the $100 million+ ARR milestone.” Instead of relying on credit bureau information, the company uses contextual data such as device information, real-time behavioral data and sociodemographic data, and many other types of data sources that are then analyzed by its artificial intelligence and machine learning technology to predict an applicant’s repayment ability. Since 2012, the company has granted nearly 5 million loans online. One unique aspect of Kueski’s services, according to Flores, is that the company allows users to generate a credit history because it reports when customers pay on time (or default on a payment). Today, the company has nearly 500 employees, up from 223 in September of 2020. is currently focused on the Mexican market, but it is planning to expand to other countries in Latin America in the future.Greenspring Managing Partner Jim Lim said his firm is excited by the opportunities in the BNPL sector in Mexico and the rest of Latin America.“We are delighted to be partnering with the undisputed market leader, Kueski,” he said in a written statement.Altos Ventures’ Anthony Lee believes that the fact that Kueski has “leveraged years of technology development and consumer lending data” to launch its buy now, pay later product gives it “valuable market experience that is simply unavailable to newer entrants.”“Because of this, the company can better underwrite consumers and uniquely support merchants in a way that its competitors cannot match,” he wrote via email. Flores founded Kueski because he wanted to expand access to basic financial services to Mexico’s population. “The vast dataset that we’ve been able to build after receiving six million unique applicants provides Kueski a powerful data network effect that allows us to more precisely predict an applicant’s ability to repay a loan,” Flores said. Of course, Kueski is not the only BNPL player in Mexico.