CASHe, an Indian non-bank, mobile-first, personal loan startup, has raised USD 18.7 million in equity in the latest funding from Singapore-based holding company TSLC Pte Ltd. on 4 January 2022. With this funding, the startup has achieved a valuation of INR 800 Cr ( over USD 107 million).
Investors: The company raised the latest funding from TSLC Pte Ltd. TSLC Pte Ltd operates as financial technology. The company offers an application-based lending platform that provides short-term personal loans to young professionals based on their social profile, merit and earning potential using its proprietary algorithm based machine learning platform. TSLC serves customers in India.
The Objectives behind the funding: The company plans to deploy the current proceeds to boost its profitability and enhance its product lines to include BNPL, credit line and embedded car products. CASHe is seeking to expand its loan book to INR 3,000 Cr (over USD 402 million ) by increasing its user base to 1 Million from a claimed 4 lakh presently.
About CASHe
Founded in 2016 by V. Raman Kumar, CASHe is a credit-enabled financial technology platform that provides a wide range of consumer lending products and services, such as personal loans, Buy Now Pay Later, Credit Line, payments and transfer facilities to salaried millennials using its proprietary credit rating algorithm, the Social Loan Quotient (SLQ). The company disburses loans in the range of INR 1,000 and INR 3,00,000 with an approximate annual percentage rate of more than 30.42% with a minimum repayment tenure of three months and maximum repayment tenure of 12 months.
Starting as a personal loan app in 2017, the startup has now morphed into a full-fledged financial services platform that provides its customers everything financial, covering credit, EMI shopping, payments & insurance services.
What the Founder and team have to say:
“We have set our goals to become a full-stack, credit led financial wellness platform of choice for the millennial and Gen Z cohort. The new capital infusion reflects a meaningful maturity level of CASHe’s balance sheet, profitability and business model,” said V. Raman Kumar, founder chairman of CASHe.
“In the last few years, CASHe has demonstrated that it is ready to seize every opportunity. Even during the two waves of Covid, it continues to forge ahead through its strong accelerating momentum predicated on the strength of its technology, business analytics, people and processes,” said Joginder Rana, vice chairman and managing director of the startup.
For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.
We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
Next Article
.){kind=link}