Kesh wants to change how payroll credit works in Brazil: instead of just deducting a loan from a worker's paycheck, the company gives borrowers back 100% of the interest they pay as cashback they can spend with more than 150 partner brands, including Bob's, Vivo, TIM, Claro, Uber, Deezer, and Netshoes. Kesh also gives partner businesses a free payroll management and processing system to offer the benefit to employees.
The fintech raised USD $110M (R$550 million) in a round combining equity and debt financing through its own credit rights investment fund. The round was led by Grupo Leste, with participation from the BR Angels investor network and Across Capital.
Kesh currently counts roughly 40,000 active users, has disbursed more than R$30 million in credit, and is targeting one million users within three years. About 80% of its borrowers earn up to five times Brazil's minimum wage.
