Carey Olsen has advised Venezuelan buy now, pay later (BNPL) fintech platform Cashea on its US$100 million Series A and Series B financing, led by FinSight Ventures and Spice Expeditions.
Founded in 2022, Cashea is Venezuela's leading BNPL platform, enabling customers to make purchases in interest-free instalments without a credit card. The platform operates in a market where access to traditional bank credit remains limited, helping consumers finance purchases while enabling merchants to increase sales.
The investment, which also saw participation from U.S. endowments, global venture firms and Latin American investors, will allow Cashea to expand access to credit and develop new solutions for the company's users and partner businesses.
The Carey Olsen Cayman Islands corporate team advising on the transaction comprised partner Trevor McCabe and associate Kardia Leung.
Trevor McCabe commented: "Cashea has rapidly emerged as a leading fintech platform in Venezuela, helping to expand access to credit in a market where traditional financing options remain limited. This fundraising is a significant milestone for the company and provides a strong foundation for its next phase of growth, innovation and market expansion."