US startup Kasheesh has launched a free digital platform that lets users split payments for online purchases across multiple credit, debit and gift cards.
The firm launches with $5.5 million in funding from Tribe Capital, Anthemis, Courtside Ventures and angels including NFL star Odell Beckham Jr and actor Robin Wright.
Kasheesh says that its web-based browser extension helps American online shoppers in three ways: reducing the cost burden on individual cards per purchase; helping to build credit scores and card rewards; and maximising privacy through auto-generation of a new encrypted card number for each purchase.
Users can upload up to 10 cards to the extension, with proprietary AI helping to suggest the best combination to use per purchase.
The startup is working with Stripe and Plaid to verify each user’s proof of identity and funds for security purposes. All customer information stays confidential in this process.
Sam Miller, CEO, Kasheesh, says: "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.
"Kasheesh leverages existing spending power, not added debt. We maximize rewards versus maxing out cards."