Digital platform CASHe raises Rs 140 cr in equity funding; balance sheet swells to over Rs 800 cr, company says
CASHe has disbursed over Rs 1,000 cr worth of loans in 9 months of this fiscal year alone and is all set to disburse over 1400 crores in FY 21-22, thereby growing by over 100 percent over its previous year, a company statement claimed
Digital platform CASHe has closed 140 crores of equity funding from its Singapore-based holding company TSLC Pte Ltd, the company has announced via a media release. The latest round of capital infusion strengthens the Mumbai headquartered fintech company’s balance sheet size to over Rs 800 cr, the statement said.
This constitutes about Rs 300 cr in equity and over Rs 500 cr raised through debt from a well-diversified pool of leading private banks and NBFCs, it further said.
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With this fresh capital, the company will boost its profitability, enhance its existing product lines such as personal loans, BNPL, Credit Line and embedded card business.
The company aims to launch new offerings in WealthTech and ramp up its investments in operations, product development, data sciences, and technology, the release claimed.
The company also said that it seeks to expand its loan book to Rs 3,000 cr and upscale its user-base to 1 million from the current 4 lakh customers in FY 2022-23.
The company has disbursed over Rs 1,000 cr worth of loans in 9 months of this fiscal year alone and is all set to disburse over 1400 crores in FY 21-22, thereby growing by over 100 percent over its previous year, the company statement claimed.
The firm plans to invest substantially in creating and improving its tech-stack platform to bolster and preserve the growth of its user base, all while facilitating all types of banking transactions.
“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 mode,” V Raman Kumar, Founder Chairman said.
The company also said that it has strengthened its leadership through strategic C-suite appointments and is eyeing fresh hires in technology, product, marketing, and customer support to help it expand its foothold across the country.
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