Total amount raised
$25.7 Millions
Latest funding date
01/01/2022
Location
CASHe has successfully raised ₹140 crore equity from TSLC, positioning itself as a significant player in the fintech industry. The platform offers flexible, unsecured personal loans through a mobile application, utilizing AI-powered technology to provide quick financial decisions.
Keep reading to explore the intricacies of CASHe's fundraising journey and the investors backing this innovative platform.
What Is CASHe?
CASHe, founded on March 31, 2016, is a fintech company based in Mumbai, Maharashtra, India. The company was established by V. Raman Kumar and focuses on providing flexible, unsecured personal loans through a mobile application.
CASHe offers a variety of financial products, including instant personal loans, two-wheeler loans, travel loans, car loans, consumer durable loans, and mobile loans. These products are designed to meet the financial needs of salaried individuals with flexible repayment options.
With a team of 51-100 employees, CASHe leverages AI and ML technology to provide quick and accurate financial assessments, aiming to offer financial inclusiveness to underserved and unserved working millennials.
How Much Funding Has CASHe Raised?
- Corporate Round
- Amount Raised: $18.7M
- Date: January 2022
- Lead Investors: TSLC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To boost profitability, enhance product lines, and launch new offerings in WealthTech.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: October 2021
- Lead Investors: BlackSoil
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and operational needs.
- Debt Financing
- Amount Raised: $3.1M
- Date: October 2017
- Lead Investors: Northern Arc
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and operational needs.
- Series A
- Amount Raised: ₹250M
- Date: April 2017
- Lead Investors: Mathew Cyriac
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand financial product offerings and enhance technology capabilities.
- Private Equity Round
- Amount Raised: Not publicly disclosed
- Date: March 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development.
Total Amount Raised: $21.8M
Current Valuation: Not publicly disclosed
Key Investors
- TSLC Pte Ltd
- Details: TSLC Pte Ltd is a Singapore-based holding company and the parent organization of CASHe. It focuses on financial technology and digital lending solutions.
- Investment Focus Areas: Financial technology, digital lending, credit solutions.
- Notable Investments: CASHe.
- BlackSoil Capital
- Details: BlackSoil Capital is a venture debt firm that provides growth capital to startups. It has been involved in various funding rounds for CASHe.
- Investment Focus Areas: Growth capital for startups.
- Notable Investments: CASHe.
- Northern Arc
- Details: Northern Arc is an investment firm that provides debt funding to various companies. It has supported CASHe in its growth and operational needs.
- Investment Focus Areas: Debt funding for financial services.
- Notable Investments: CASHe.
- Mathew Cyriac
- Details: Mathew Cyriac is an individual investor and the owner of Florintree Advisors, an alternate asset manager. He has invested in CASHe to support its expansion and technological advancements.
- Investment Focus Areas: Alternate asset management across various sectors.
- Notable Investments: CASHe.
- IFMR Capital
- Details: IFMR Capital is a financial services company that provides debt funding to various companies. It has provided significant debt funding to CASHe.
- Investment Focus Areas: Debt funding for financial services.
- Notable Investments: CASHe.
What's Next for CASHe?
CASHe stands at the cusp of significant growth opportunities. With plans to expand its loan book to ₹3,000 crore and increase its user base to one million, the company is poised to capitalize on the growing demand for digital lending and financial wellness platforms. The infusion of ₹140 crore from TSLC will enable CASHe to enhance its product lines, including BNPL and WealthTech offerings, and invest in technology and data sciences.
Future fundraising opportunities seem likely as CASHe continues to scale its operations and expand its market reach. The company's ambitious goals and the increasing reliance on digital financial services suggest that additional funding rounds may be on the horizon to support these initiatives. Potential acquisitions could also be considered to bolster technological capabilities and product offerings.
However, CASHe may face challenges such as managing rapid growth, competition from other fintech companies, and ensuring regulatory compliance. Addressing these hurdles will be crucial for sustaining profitability and achieving long-term success in the competitive digital lending landscape.
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