Total amount raised
$25.7 Million
Latest funding date
01/01/2022
Location
CASHe has successfully raised funding over four rounds, with the latest being a Corporate Round. The fintech company offers flexible, unsecured personal loans through a mobile application.
With backing from investors like TSLC and BlackSoil, CASHe continues to expand its financial services, including the acquisition of Sqrrl. Keep reading to explore the intricacies of CASHe's fundraising journey and the investors supporting this innovative platform.
What Is CASHe?
CASHe, a fintech company based in Mumbai, Maharashtra, India, specializes in providing flexible, unsecured personal loans through a mobile application. The company operates in the FinTech, Financial Services, Apps, and Payments industries.
Founded by Bhanix Finance and Investment Limited, an RBI-registered NBFC, CASHe employs between 51-100 people. The platform offers instant personal loans up to ₹3 lakhs and pre-approved credit limits up to ₹2 lakhs, leveraging advanced AI and ML technologies to deliver quick and accurate loan decisions.
How Much Funding Has CASHe Raised?
- Series A
- Amount Raised: INR 250,000,000 (approx. USD 3,700,000)
- Date: April 2017
- Lead Investors: Mathew Cyriac
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's reach and enhance its product offerings.
- Debt Financing
- Amount Raised: USD 3,070,000
- Date: October 2017
- Lead Investors: Northern Arc
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and operational needs.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: October 2021
- Lead Investors: BlackSoil
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the company's financial stability and support its expansion plans.
- Corporate Round
- Amount Raised: INR 1,400,000,000 (approx. USD 18,700,000)
- Date: January 2022
- Lead Investors: TSLC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To boost profitability, expand product lines, and invest in technology and operations.
Total Amount Raised: USD 25,470,000
Current Valuation: Not publicly disclosed
Key Investors
- TSLC Pte Ltd
- Details: TSLC Pte Ltd is a Singapore-based holding company. It is the parent company of CASHe and has provided significant equity funding to support CASHe’s growth and expansion.
- Investment Focus Areas: Digital lending, financial technology
- Notable Investments: CASHe
- BlackSoil
- Details: BlackSoil is a venture debt firm that provides growth capital to startups. It has been involved in multiple funding rounds for CASHe.
- Investment Focus Areas: Financial services, technology, startups
- Notable Investments: CASHe
- Northern Arc
- Details: Northern Arc is a financial services company that provides debt funding to various financial institutions and startups. It has participated in debt financing rounds for CASHe.
- Investment Focus Areas: Financial services, debt funding, startups
- Notable Investments: CASHe
- Mathew Cyriac
- Details: Mathew Cyriac is an investor and the former head of Blackstone India. He has been a lead investor in CASHe’s Series A funding round.
- Investment Focus Areas: Technology, financial services, startups
- Notable Investments: CASHe
What's Next for CASHe?
CASHe stands at the cusp of significant growth opportunities. With fresh capital infusion, the company aims to enhance profitability and expand its product lines, including personal loans, BNPL, credit lines, and embedded card businesses. The fintech firm also plans to launch new offerings in WealthTech, invest in operations, product development, data sciences, and technology, and double its team strength to manage future growth. The goal is to expand its loan book to ₹3,000 crore and increase its user base to 1 million from the current 4 lakh customers.
Given these ambitious plans, future fundraising opportunities seem likely. The company may seek additional funding to support its expansion and new product offerings. The digital lending industry is experiencing growth, driven by increasing internet penetration and the need for quick financial services, making it an attractive sector for investors.
However, CASHe might face challenges such as managing rapid growth, competition from other fintech companies, and ensuring profitability while expanding. Regulatory changes and maintaining data security are also potential hurdles. Despite these challenges, the company's strategic vision and robust growth plans position it well for future success.
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