Scoop: Mexican startup Kueski raises Series B in equity and debt combo

Contxto – I’m back with more gossip, folks.

This time, Kueski, an online credits startup from Guadalajara, has raised a new funding round.

Speculation revolves around a US$25 million in equity funding while US$100 million were complemented as debt from undisclosed investors.

Kueski won’t confirm the details on amounts and investors and in fact, disqualifies them. However, we ensured from sources familiar with the matter that it was a Series B equity round, but it was mainly debt.

The startup has previously raised seed funding and a US$35 million Series A in both equity and debt, too. Equity represented around 28 percent of the deal.

Previous Kueski funding

According to a Business Wire report, back in 2016, the Series A round was worth US$35 million with the possibility to expand to US$100 million, which is something that we’re still investigating.

At the time, it was considered Mexico’s largest fintech round. Obviously, that has since changed, but it’s still important to recognize that previous milestone for Kueski.

Richmond Global Ventures, Rise Capital, the CrunchFund and Variv Capital led this previous round. It also included Victory Park Capital, Angel Ventures Mexico, Core Ventures Group and Auria Capital.

Kueski’s Series A round was allegedly going to go towards growing the team, increasing its regional brand presence, as well as expanding the portfolio. Since then, it has also surpassed the 130 employee mark. 

This is a developing story. Some things reported by media could turn to be inaccurate. We’re focusing on finding more information from reliable sources, so stay tuned, I will update it as soon as I find out more.

-VC