Fintech Start-Up CASHe Targets Rs. 30 Crore Loan Disbursements Per Month in Less than a Year of Operations

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Mumbai, India

  • Targets Rs. 30 Crore in loan disbursements for March 2017
  • Establishes a growing and loyal customer base of over 10,000
  • Launched in April 2016, CASHe offers loans based on a combination of Big Data Analytics and proprietary Artificial Intelligence based algorithm which enables loan disbursal within 8 minutes.
  • The loans range from Rs. 5,000 – Rs. 1 Lakh with a tenure between 15 – 90 days

Aeries Financial Technologies Pvt. Ltd., a fin-tech company promoted by serial entrepreneur and private equity investor Mr. V. Raman Kumar, today announced that CASHe, India’s fastest loan giving app for young salaried professionals is now disbursing loans well over 1 Crore per day in less than a year of operations. CASHe now processes an average of 450 loan applications per day for young salaried professionals. CASHe is now India’s leading and most preferred Fintech Company in the personal lending space.

Launched in April 2016, CASHe offers loans based on a combination of Big Data Analytics and proprietary Artificial Intelligence based algorithm, the Social Loan Quotient, which enables loan disbursal within 8 minutes.

“We have seen a fantastic response to our loan products with a month-on-month 45% growth in customer base and 60% growth in disbursal value in the past few months,” said Mr. Mr. V. Raman Kumar, Chairman, Aeries Financial Technologies Pvt. Ltd. “Our loan disbursements now stand at 1 crore per day and we have achieved a significant milestone of processing over 450 loan applications on a daily average – all this within a year of setting up our operations. We are now well set to disburse loans worth 30 crores for March 2017. CASHe has embarked on a tremendous growth trajectory to achieve a loan disbursement value of Rs. 100 crore for the month of December 2017. We have leveraged innovative technology along with our proprietary Artificial Intelligence based algorithm platform, the Social Loan Quotient, to make loan disbursal hassle free for our customers, leading to over 70 percent of them returning for fresh loans.” he added.

CASHe provides hassle-free loans with its app enabled documentation and loan disbursal/repayment process. Powered by its industry-first algorithm driven credit scoring platform, The Social Loan Quotient (SLQ), CASHe quickly determines a user’s credit worthiness by using multiple unique data points to arrive at a distinct credit profile of the customer. SLQ is transforming the traditional credit rating measurements thereby providing immediate loans to the under-served young professionals who are kept out by traditional credit rating and banking systems. CASHe is completely automated and requires no personal intervention and no physical documentation. The average time taken for a loan to be disbursed is about 8 minutes, subject to proper submission of all documents.

About CASHe

CASHe, a fin-tech product of TSLC PTE. Ltd., promoted by Aeries Financial Technologies is as unique as the young professionals it serves. In a smart digital world, CASHe offers millennials quick and easy personal loans through processes that are transparent, innovative and tuned to the times. CASHe utilises sophisticated algorithms and machine learning capabilities to deliver an amazing and improved lending experience to our customers, thereby helping young professionals achieve their financial goals effortlessly. CASHe offers instant transfer of funds for approved applicants. An initiative established by a visionary founder whose last venture was valued at over a billion dollars, CASHe is brought to you by a team known as much for its expertise and experience in technology, banking, AI and big data analytics as it is for its past entrepreneurial success. CASHe is currently available on Android and iOS platforms.