Le Lézard
Classified in: Science and technology
Subjects: Product/Service, Funding

Giving Power and Insights Back to Your Credit & Debit Spending: Kasheesh Closes Celebrity Fundraise with Lil Baby, Michael Rubin and Others

Today Kasheesh, the first-to-market digital payment platform that allows anyone to split payment for online purchases across multiple combinations of debit and credit cards, continues its mission to help consumers shop smarter online. With new celebrity investors including CEO of Fanatics and serial entrepreneur Michael Rubin, Grammy Award-winning rapper Lil Baby, FX's superstar Snowfall actor Damson Idris, The h.wood Group co-founder and nightlife entrepreneur John Terzian and continued support from Super Bowl winner Odell Beckham Jr and his business partner Ajay Sangha, Tribe Capital, Anthemis, Sahil Bloom and Robin Wright, Kasheesh has increased its investments totaling $8.5 million USD.

Kasheesh believes consumers should have tailored financing options on purchases versus being forced to select just one source of available funds. Kasheesh's free, web-based browser extension helps U.S.-based consumers across three main areas of online spending: reduced cost burden on individual cards per purchase, assisting in sustainably building credit scores and card rewards by utilizing any combination of cards versus just one, and maximizing financial privacy through Kasheesh's unique auto-generation of a new encrypted VISA or Mastercard card number to use per purchase.

Launched in late June 2022 in the midst of an era where the cost of goods, services and healthcare have skyrocketed and general financial literacy still isn't common knowledge to the masses, the company has facilitated over $40 million in transactions thanks to organic growth and without any marketing. Democratizing insights into the available cards each user has, Kasheesh has built a transaction engine that can instantly check and charge the account balances of the underlying cards before funding purchases, thereby removing its exposure to credit risk.

"Anyone with one or more debit or credit cards understands the burden of potentially maxing out their spending limit," said Kasheesh co-founder and CEO, Sam Miller. "Kasheesh gives anyone the ability to look at and use your available funds across financial institutions, debit or credit, to make more informed decisions about which card(s) to use on specific purchases, while maximizing each card's benefits."

Buy Now Pay Later (BNPL) loans rapidly grew 1000% from 2019-2022 as a popular method for consumers to pay for goods if personal funds weren't immediately available. Yet BNPL payment delinquency rates are considerably higher than those of credit cards. Since Kasheesh is not a financial institution or a loan provider in the way BNPL platforms are, consumers aren't beholden to the risk and inconvenience of spending beyond their means. Further, Kasheesh is the first platform to take advantage of splitting payments, a decades-long brick & mortar hack, and bringing it online.

The Flexibility Using Your Own Available Funds

Kasheesh auto-generates a unique VISA or Mastercard banking "card" number pulled from debit and credit cards of a user's choosing in order to split the cost of online purchases. Its many benefits include:

As part of its latest investment, Kasheesh has increased its team, including an expanded customer service, a head of partnerships, and other support staff to help with the growing demand in the face of BNPL. In addition, Kasheesh is doubling down on consumer education through its widely-read Finance Academy platform.

Kasheesh is currently only available in the U.S. and currently works on Chrome with expansion to other browsers including Edge, Firefox, and Safari soon. For more information and to sign up, please visit https://www.kasheesh.co/ and follow us on social media: Instagram: @kasheesh.pay, Twitter: @kasheeshpay and on LinkedIn.

About Kasheesh:

Kasheesh represents a new era for payments. Kasheesh is a first-to-market digital payment platform that allows anyone to split payment for online purchases across multiple debit and credit cards in any way they want, for free. We believe any shopper regardless of income and credit score should be able to consolidate spending power across their spending cards in order to optimize rewards and build credit with real-time transactional intelligence. More importantly, we believe unlocking the full potential of debit and credit cards will help consumers everywhere make more responsible spending decisions powered by analytics.

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News published on 9 february 2023 at 08:20 and distributed by: