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CASHe Raises 140 Crore in Equity Funding from TSLC

CASHe
CASHe

CASHe, India’s top credit-led, AI-driven financial wellness platform, announced that its Singapore-based holding company, TSLC Pte Ltd, has closed 140 crores in equity fundraising. The recent capital infusion boosts the Mumbai-based fintech company’s balance sheet to over Rs. 800 crores, with roughly Rs. 300 crores in equity and over Rs. 500 crores in debt raised from a well-diversified pool of top private banks and reputable NBFCs.

With this additional funding, the company plans to increase its profitability and expand its existing product lines, including personal loans, BNPL, Credit Line, and embedded card operations. It intends to expand its WealthTech solutions and increase its investments in operations, product development, data science, and technology. It aims to expand its team size across domains in order to keep up with future growth.In FY 2022-23, it also plans to increase its loan book to Rs 3,000 crore and increase its user base to 1 million from the existing 4 lakh. The company has already disbursed over Rs 1,000 crore in loans in the first nine months of this fiscal year and is on track to distribute over Rs 1400 crore in FY 21-22, an increase of over 100% over the previous year.

To bolster and maintain the expansion of its user base while facilitating all forms of financial activities, the company expects to invest significantly in developing and expanding its tech-stack platform. The company has improved its leadership through smart C-suite appointments in order to achieve its expansion goals. It is eyeing fresh hires in technology, product, marketing, and customer support to help it expand its foothold across the country, thereby fortifying its vision of building a full-stack credit-led financial wellness platform.

Raman Kumar, Founder Chairman of CASHe “Achieving the Vision 3.0 is the next frontier for our growth and opportunity. 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”

Also speaking, Joginder Rana, Vice Chairman & MD, CASHe, said, “CASHe is now poised to enter the next phase of its growth journey. 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. The latest capital infusion in the company will enable us to disburse to the tune of Rs 3,000 Cr for the FY 22-23 – that would be twice as much as we would have disbursed by the end of FY 21-22. It also provides us with the required resources to fuel and accelerates our investments in technology and people to enable us to launch innovative financial products to our customers.”, he concluded.

In the last four years since its launch, CASHe has crossed over 15 million registered users with over 9 million customers that have provided thin file data. It has disbursed over 3000 crores to over 4 lakh active customers, of which 70 percent are repeat customers. By employing its proprietary tech and credit writing system, CASHe aims to transform the digital lending industry in India while offering credit to the unserved and underserved – those who otherwise do not have access to credit through traditional mediums. Today, CASHe is the nation’s fastest-growing digital lending platform.

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