SAN FRANCISO, CA / ACCESSWIRE / February 10, 2023 / QUASH.ai, the leading Artificial Intelligence Platform for Improving Credit Origination for financial institutions in Latin America, has received a $3.7 million investment. The new capital will enable QUASH to expand its reach and provide its services to over 1,000 financial institutions in the next three years.
The QUASH platform is designed to tackle the issue of inaccessible credit for many individuals & Small & Medium Businesses in Latin America. According to CEO Yoel Gavlovski, 8 out of 10 people in the region do not meet the quality standards for obtaining credit with favorable interest rates and conditions. However, with the increasing use of alternative data sources, at least 4 out of these 8 individuals are now eligible for some form of loan.
As a result of this new investment, QUASH plans to expand its services to more financial institutions in the coming years. With the aim of increasing credit Originations by 20% without additional risk, more than 100 financial institutions are expected to use QUASH by 2023. This is due in part to the platform's industry recognition, including being named a winner of the VISA Everywhere Initiative and being selected as a top FICO partner.
QUASH is a co-pilot for credit risk managers, helping them automate credit decision-making processes efficiently. The platform has pre-trained models for 14 financial products, fed by over 30 million repayment events in 10 Latin American countries. With 70% of its clients concentrated in Mexico and Brazil, QUASH is well-positioned to continue growing and serving the needs of financial institutions in the region.
The QUASH team is made up of over 50 highly qualified employees and advisors, and is backed by well-known investors in Silicon Valley, including angels such as Alex Porto from Riverwood Capital, Barak Kaufman as scout from Insight Partners, as well as HTwenty, G2 Momentum and Q Capital Venture Capital firms.
"We are thrilled to receive this investment and look forward to expanding our reach and helping even more financial institutions increase their credit originations," said Yoel Gavlovski, CEO and founder of QUASH.ai. "We are dedicated to providing credit risk managers with the technology they need to make informed decisions and improve the lives of individuals and Small & Medium Businesses in Latin America."
About: QUASH was founded by Yoel Gavlovski in 2019 with its HQ in Miami with the purpose to enable a $10 trillion dollar debt need for Latin Americans to access to a variety of loans including from micro loans and credit cards to student loans, mortgages and many more.
For more information about QUASH.ai, please visit the website at www.quash.ai.
Website URL: www.quash.ai
Company Name: QUASH.ai
Email address: [email protected]