Kasheesh

Kasheesh is a New York-headquartered financial technology company (not a bank) that lets consumers divide a single purchase across up to five payment methods they already hold — credit cards, debit cards and prepaid/gift cards. Users link their cards in the Kasheesh app, browser extension or web dashboard, set the percentage or dollar allocation per card, and generate a virtual Kasheesh card that is presented as a single card number at checkout. The card can be added to Apple Pay or Google Wallet for in-store tap-to-pay, and the company states it works at any merchant accepting Mastercard, citing over 10.5 million merchants nationally.

The product line includes a standard Multi-Use Kasheesh Card that can be saved with merchants for recurring and everyday spending, and a Single-Use Card that expires after one purchase for added protection against later unauthorized charges. Kasheesh describes the issued cards as virtual debit cards that act as a vessel for the underlying split; it does not open bank accounts, extend credit, charge interest or late fees, run a credit check, or report to credit bureaus, though interest and fees may still accrue on the user's underlying cards. Banking services and card issuance are provided by Bangor Savings Bank, Member FDIC, under a Mastercard International license, and the company cites AICPA SOC 2 certification and patent-pending splitting technology. Positioning emphasizes managing credit utilization on individual cards, spreading payments across differing billing cycles for cash-flow management, and stacking Kasheesh Rewards on top of the underlying cards' own rewards.

Founding story

Co-founders Sam Miller (CEO) and Kevin Kim (CTO) started the company in 2021, with the idea forming during the pandemic amid the 2020 BNPL boom. Miller says the concept crystallized when an acquaintance trying to avoid both BNPL and maxing out a card was told by a retailer that a purchase could be split across multiple cards in-store but not online, pointing to a missing e-commerce capability. The first live transaction, after about 18 months building the beta, was CTO Kevin Kim's laptop purchase on Best Buy's website.

Business model

Kasheesh operates a direct-to-consumer payments platform. At launch the company said it offered the product at no cost to users and monetized interchange fees from Mastercard on the single-use card issued for each purchase. The current site states a flat 2% service fee is charged on each split transaction, with no subscriptions, interest or other fees; a tiered rewards balance can be applied to offset part of that fee.

Transaction-based: a flat 2% service fee per split transaction, alongside interchange economics from card issuance described at launch.

Traction

The company reports more than $76.2 million in payments split across cards, over 126,000 sign-ups and more than 60,000 total transactions. Earlier disclosures included over $10 million in user transactions within roughly five months of a January 2022 private beta, with volume said to be doubling monthly, a 75% conversion rate from signup page to signup, 340% outperformance against projected user growth in Q3 2024 versus Q2, and 109% quarter-over-quarter GMV growth. The team grew from two co-founders to more than 25 people.

Latest developments

Kasheesh Rewards, a tiered loyalty program, launched in March 2025, automatically enrolling existing account holders and paying 1% to 1.5% back depending on quarterly spend tier, capped at $500 per quarter and redeemable 30 days after a transaction to offset part of the 2% service fee. The company has stated goals of introducing Group Payments and forming partnerships with other businesses. Founder interviews and coverage appeared in Authority Magazine and citybiz in March and May 2025.