Kasheesh, which claims to be a first-to-market digital payment platform, has increased its total capital raised to $8.5m, with backing from high-profile investors.
Its backers include Grammy Award-winning rapper Lil Baby, Snowfall actor Damson Idris, The h.wood Group co-founder John Terzian and Super Bowl winner Odell Beckham Jr and his business partner Ajay Sangha.
The firm has also attracted investment firms, including Tribe Capital and Anthemis.
In line with the funding, the digital payment platform has hired more staff. This includes a new head of partnerships.
The team is also looking to bolster its consumer education efforts through its Finance Academy platform.
Kasheesh is a digital payment platform that allows anyone to split payment for online purchases across multiple combinations of debit and credit cards.
The team believes that consumers should have tailored financing options on purchases, rather than being forced to pick one source of available funds. Its free, web-based browser extension aims to help US-based consumers reduce cost burdens on individual cards, sustainability building credit scores and card rewards, and maximising privacy through auto-generation of a new encrypted VISA or Mastercard card number to use per purchase.
Launched in 2022, Kasheesh built a transaction engine that can instantly check and charge the account balances of the underlying cards before funding purchases, removing the exposure to credit risk.
Kasheesh co-founder and CEO Sam Miller said, “Anyone with one or more debit or credit cards understands the burden of potentially maxing out their spending limit.
“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 maximising each card’s benefits.”
In other payments news, Tazapay, a cross-border payments company, has raised $16.9m in its Series A funding round, which was led by Sequoia Capital Southeast Asia.
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