Cashea
Provides a buy-now-pay-later (BNPL) platform tailored for underserved markets in Latin America, enabling users to make purchases at over 3,500 merchants with zero-interest installment plans. The app pre-approves credit lines in under three minutes, offering flexible payment options of up to 15 installments for both everyday and larger purchases, addressing limited access to traditional credit systems.
- Applications
- Financial Technology
Funding
Raised to date
$250KRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
across 1 round
EAECNV$250K · Seed
Announced Oct 2023
Disclosed cumulative: $250K
Founders
Pedro Julio Vallenilla Sosa
Founder
Ramón Lange Fernández
Founder
Nicolás Curat
Founder
Product
Problem
Many consumers in Latin America lack access to traditional credit systems, limiting their purchasing power and access to essential goods and services. High inflation and economic instability further exacerbate these challenges, making it difficult for individuals to afford necessary items.
Solution
Cashea provides a buy-now-pay-later (BNPL) platform designed for underserved markets, enabling users to make purchases at affiliated merchants and pay in interest-free installments. The mobile app offers instant credit line pre-approvals, allowing customers to shop at over 3,500 stores and pay for their purchases over time. By splitting payments into an initial installment plus several bi-weekly installments, Cashea provides a convenient and accessible alternative to traditional credit, empowering users to acquire needed goods without incurring interest charges. The platform also offers a "Línea Cotidiana" for everyday purchases at supermarkets and pharmacies, further expanding access to essential items.
Target Audience
Cashea primarily targets consumers in Latin America who lack access to traditional credit cards and seek a flexible, interest-free payment solution for purchases at affiliated retailers.
Features
- Instant credit line pre-approval within three minutes
- Flexible payment plans with up to 15 interest-free installments for larger purchases
- "Línea Cotidiana" for splitting payments at supermarkets and pharmacies into one initial payment and one follow-up payment in 14 days
- Mobile app available on both iOS and Android
- QR code scanning for in-store purchases
- Option to earn points through responsible payment behavior, leading to increased credit lines and benefits
- Integration with over 3,500 merchants across various categories, including technology, fashion, home goods, and services