What began as a solution for consumers without access to credit cards, today has become a key gear of the Venezuelan financial system. Cashea, the application that allows you to buy now and pay later, represents 45% of the amount traded in the Caracas Stock Exchange (BVC) through stock financing certificates (CFB).
The company, co -founded by Pedro Vallenilla, has managed to mobilize more than US $ 40 million since March, becoming an alternative liquidity route for more than 6,000 affiliated shops. All this in a country where traditional credit practically disappeared.
Stock certificates as a liquidity tool
The Cashea model not only allows customers to buy products in interest without installments. It also facilitates that businesses receive money from those sales much earlier. How do you do it? Through the acquisition of stock financing certificates, issued with discount and liquidated on the same day, provided that the documentary support is delivered before 11 am
“Cashea uses a mixture of own capital and private financing to buy the debt with a rate of between 1% and 5% of the value of the invoices,” Vallenilla told Bloomberg.
An app born in Argentina, made for Venezuela
Although Cashea was created in Argentina, its design responded to a very Venezuelan reality: an economy without bank credit. Since 2019, the government drastically limited loans to contain hyperinflation, leaving millions without access to financing. Cashea came to fill that void.
In just over a year, it already accumulates more than 1.2 million users. In events such as Black Friday, it became the favorite form of payment: 9 out of 10 purchases in stores such as Venelectronics were financed with the app, according to commerce employees.
The new phase: financial solutions for all
With stock certificates, Cashea advances towards its next stage: to be more than a quota app. Now, it is emerging as a comprehensive financial actor, offering tools that relieve trade flow flows and energize a stock market that seeks to reinvent themselves.
“We are responding to the call of the Caracas Stock Exchange to boost the economy,” said Vallenilla.
Certificates, which may have maturities of only 14 days, are nominated in bolivars but linked to the dollar, offering additional coverage compared to monetary volatility.
More than an app, an engine for consumption
In a country where credit cards ceased to be functional (with average limits of only US $ 60), Cashea has become the de facto financing option for thousands of Venezuelans. Its model not only opens consumption opportunities, it also allows shops to prosper and that the financial system finds new roads to operate.
“Our intention is to continue creating concrete solutions for the real needs of Venezuelans,” the CEO concluded.
