Cashea raises US $ 100 million to expand Venezuelan consumer finance
NEWS
Cashea raises US $ 100 million to expand Venezuelan consumer finance
Venezuelan fintech Cashea has raised US $ 100 million from global institutional investors, with the company planning to invest the entire amount in expanding consumer credit and merchant services across Venezuela.
The financing comprises a previously undisclosed US $ 40 million Series A, completed in March 2026, and a US $ 60 million Series B closed in June.
Spice Expeditions led the Series A, which included US $ 20 million in equity and US $ 20 million in debt from Architect Capital. FinSight Ventures led the Series B, with participation from Spice Expeditions, Endeavor Catalyst and other international investors.
Founded in 2022, Cashea provides digital, zero-interest instalment financing for online and in-store purchases. The company said it has more than 10 million consumer accounts, equivalent to more than half of Venezuela’ s adult population, alongside a network of 40,000 stores nationwide.
Cashea has processed more than 100 million transactions since launch. Customers can purchase through its app or scan a QR code in participating stores, make an initial payment then settle the remaining balance through equal fortnightly instalments.
Pedro Vallenilla, co-founder and CEO, Cashea, said the investment demonstrated confidence in Venezuela’ s private sector and consumers.
The company said the funding would support expansion beyond its core instalment product, including new ways for Venezuelans to pay, save and purchase goods, alongside additional tools for merchants.
Following the recent earthquake in Venezuela, Cashea also waived late fees, advanced cash to merchants and widened credit access to help affected families replace essential goods.
Investors included Washington University in St. Louis and Plugand-Play globally.
Quectel opens Manaus R & D centre to drive IoT growth across Latin America
Quectel Wireless Solutions has opened a research and development centre in Manaus, Brazil, strengthening its presence in Latin America and expanding its global engineering network.
The facility is Quectel’ s ninth R & D centre worldwide and its first in South America, adding to operations across China, North America, Europe and Asia-Pacific.
Located in Amazonas state, Manaus is a major electronics manufacturing hub with an established technology ecosystem and skilled engineering workforce. Quectel said the location would enable it to respond more quickly to regional customers while developing products and services tailored to Latin American requirements.
The centre will focus on smart modules, cellular and shortrange communication modules, PCB design and ODM customisation services. Its engineering teams will support applications across sectors including the industrial Internet, utilities and asset tracking.
The investment forms part of Quectel’ s strategy to combine connectivity, computing and module technologies with locally developed solutions. By expanding its R & D footprint, the company aims to shorten development cycles, strengthen collaboration with customers and partners and support growing demand for Internet of Things technologies across the region.
Yang Zhongzhi, Senior Vice President, Quectel, said the Manaus centre would significantly reduce the distance between the company’ s technical teams and Latin American customers.
“ The establishment of the Manaus R & D Center will significantly shorten our technical collaboration radius with Latin American customers, enabling us to provide faster response and more personalized service,” he said.
Quectel said it would also work with local partners to develop competitive IoT solutions for regional markets throughout Latin America.
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