Mexico-based online lender raised $10m Series A and $25m in debt financing, which could climb to $100m depending on portfolio requirements.
The round was led by Richmond Global Ventures, Rise Capital, CrunchFund and Variv Capital.
Both Kueski and Afluenta have recently managed to attract the attentions of venture capital firms that have a specific mandate to effect growth in emerging markets. Peer-to-peer lender Afluenta closed an $8m Series B round in March, in part in order to branch out into Mexico – and indeed into Colombia and Brazil. But Afluenta occupies a separate slice of the market, offering loans of up to $100k, to be repaid in up to 48 fixed installments. Kueski is targeting the micro finance space, in the first instance lending up to $2,000, over far shorter time frames.