Split Payment Platform Kasheesh Launches as Alternative to BNPL Split Payment Platform Kasheesh Launches as Alternative to BNPL
Kasheesh logo

Split Payment Platform Kasheesh Launches as Alternative to BNPL

In recent months, “buy now, pay later” (BNPL) platforms have exploded in popularity. What’s more, with Apple jumping into the space, the practice is likely to continue growing despite some concerns in regards to how BNPL services impact consumers’ personal finances. With that in mind, one FinTech has just revealed its alternative: a payment-splitting platform for online retail.

Today, Kasheesh exited stealth mode to announce the launch of its unique service. Rather than allowing shoppers to split purchases into four payments over the course of weeks, the platform instead enables consumers to utilize multiple forms of payment at once. This way, customers can maximize rewards, mind their credit limits, and more.

On top of the launch news, Kasheesh also announced that it had raised $5.5 million. This seed round included participation from Tribe Capital, Anthemis, and Courtside Ventures. Additional investment came from such famous individuals as Odell Beckham Jr, Sahil Bloom, and Robin Wright.

According to Kasheesh, its free service will utilize a web-based browser extension. Once downloaded, customers will be able to connect up to 10 debit and credit cards, as well as some gift cards. When a user goes to make a purchase using the service, its algorithm will first suggest the best combination of payments to use. Kasheesh also notes that the platform will enhance consumer privacy as the service will auto-generate per-purchases encrypted card numbers. During its closed beta, the company says it facilitated over $11 million in transactions/purchases.

Announcing the launch of the service and the idea behind it, Kasheesh co-founder and CEO Sam Miller explained, “Most people are used to paying for something with one form of payment, be it one card or BNPL alternatives. There’s a significant cost burden, risk, and little to no personalization when you’re forced to put an entire payment onto one card, especially when that card is frequently used for multiple purchases. Miller continued, “Kasheesh leverages existing spending power, not added debt. We maximize rewards versus maxing out cards.”

Additionally, SRB Ventures Managing Partner Sahil Bloom said of the service, “There are no online payment platforms that allow U.S. shoppers to split their payments, no less ones that allow consumers to avoid incurring further debt. I appreciated the way that Kasheesh unlocks consumers to pay for things using the credit they already have in the most efficient manner, and the future opportunity to allow consumers to optimize their spend across various rewards points and perks.”

On the surface, Kasheesh might seem like a simple idea. Yet, as Bloom points out, there really isn’t anything quite like it. And although it might not serve as a proper solution for all shoppers, the startup is justified in positioning this tool as an alternative to BNPL platforms — especially given the ubiquity of such services as of late. In any case, despite the “launch,” at this time, those interested in Kasheesh can join a waitlist by visiting the company’s site.

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

FedEx Announces Winners of 11th Annual 2023 Small Business Grant Contest

Nearly three months after the entry period ended, FedEx has announced the winners of its 11th annual Small Business Grant Content. This year's event saw more than $300,000 in funds going to a variety of small businesses across the nation. Last month, the company revealed 100 finalists, with that list now being narrowed down to just 10 winners. This year's grand prize winners included KindVR, The Cupcake Collection, Up In...
Summer app

Student Loan Benefit FinTech Summer Raises $6 Million

For years, student debt has been one of the most talked about financial topics. What's more, while the debt itself has become a major part of many Americans' lives, discussion of student loans has become political due to efforts to forgive certain loan repayments. However, while we wait for resolution on that front, a FinTech that brings student debt benefit solutions to employers and consumers has raised a new round...
H-E-B and Central Market  credit cards

Imprint Launches Credit Cards from H-E-B and Central Market 

The FinTech Imprint is partnering with the popular Texas-based grocery chain H-E-B for a pair of new rewards credit cards. This week saw the launch of the H-E-B Visa Signature Credit Card as well as the Central Market Visa Signature Credit Card. With these two (nearly identical) options, customers will be able to earn rewards on groceries and beyond. First, both versions of the card earn up to 5% back on select...
Melissa Urban holding a Ness card

Health and Wellness Rewards Card Ness Partners with Whole30

In recent years, several unique rewards cards have come to market. These include offerings from FinTech startups as well as brands looking to do something special for their loyal fans. On that note, a recently-announced rewards credit card offering is now working with a popular brand to introduce new benefits for customers. This week, the Ness Card (which is issued by The Bank of Missouri) unveiled a new partnership with...
Choice Privileges Select Card

Choice Hotels, Wells Fargo Debut Choice Privileges Select Card

With spring well underway and the summer travel season now just around the corner, Choice Hotels and Wells Fargo have unveiled their latest co-branded credit card offering. Today, the two companies announced the Choice Privileges Select Mastercard. Carrying an annual fee of $95, this card will serve as the premium option in the hotel brand's new lineup. Looking at the Choice Privileges Select, it offers a mix of rewards categories....