Lending platform CASHe raises INR 140 crore in equity funding
- ByTejika Bajaj | January 5, 2022
Mumbai based lending platform CASHe recently announced that it has raised INR 140 crore in an equity funding round from Singapore-based TSLC Pte Ltd. With this round of funding, the total size of its balance sheet goes upto INR 800 crore out of which INR 500 crore pertains to debt funds.
The company officials have announced that the startup intends to utilize the recently infused funds to expand its loan books to INR 3,000, multiply its team strength across various portfolios as well as strive to add more than one million users as against its existing strength of four lakh on its platform.
Expressing his delight over the new round of fundraise, the Founder and Chairman of CASHe, V Raman Kumar said in a press release, “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.”
Founded by V Raman Kumar in 2016, CASHe is a fintech startup that caters to the financial needs of individuals within the age group of 25-35 years. The startup deploys an automated and robust credit lending system thus making borrowing hassle free and safe. It also has an on-house AI based algorithm which assesses the risk of a borrower based on the user’s social and mobile data footprints.
The Mumbai based startup currently has over 15 million registered users and has given out loans worth INR 3,000 crore.
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