CASHe, a credit led, AI-driven financial wellness platform, has closed ₹140 crore of equity funding from its Singapore-based holding company TSLC Pte Ltd.
The latest round of capital infusion strengthens the fintech company’s balance sheet size to over ₹800 crore which constitutes about ₹300 crore in equity and over ₹500 crore raised through debt from a well-diversified pool of leading private banks and NBFCs.
V Raman Kumar, Founder Chairman, CASHe, said, “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.”
Boost profitability
With this fresh capital, the company will continue to boost its profitability, enhance its existing product lines such as personal loans, BNPL, credit line and embedded card business. CASHe aims to launch new offerings in wealthtech and ramp up its investments in operations, product development, data sciences and technology.
It is looking to double its team strength across domains to manage future growth seamlessly. It also seeks to expand its loan book to ₹3,000 crore and upscale its user-base to one million from the current four lakh customers in FY 2022-23.
CASHe has disbursed over ₹1,000 crore worth of loans in nine months of this fiscal year alone and is all set to disburse over ₹1,400 crore in FY 21-22, thereby growing by over 100 percent over its previous year.