Mumbai Based Startup ‘CASHe’ Utilizes Sophisticated Algorithms & Machine Learning Capabilities To Deliver The Unmatched Lending Experience To Customers
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Launched in: 2016
Founders: V Raman Kumar
Total funding: $3.8 Mn
Key investors: Aeries Group, TSLC Pte, Florentree represented by Mathew Cyriac and others
CASHe has developed a patented credit scoring system, called social loan quotient (SLQ), to provide short-term, unsecured loans to salaried individuals. The SLQ calculates the customer’s credit score from several data points obtained from his/her smartphone that gives insights into his/her willingness and ability to repay the loan.
CASHe has built a reputation of being a disruptor to the conventional credit rating systems by bringing in their alternate credit scoring algorithms and, along with it, has built mobility, transparency, agility, and a soft human touch when required while serving their customers. Their offered products: Instant Loans – the widest range of instant, short-term personal loans for all financial needs; BuddyTransfer – a smarter way to transfer money directly from the app to your friends; Loyalty Rewards Program – Enjoy exclusive benefits from their Crown Rewards Program; Secure Your Loans – secure your loans with must-have insurance policies to cover your financial liabilities; Loans For You – they have a loan that serves all your needs.
Currently, most companies charge a hefty interest amount, and it becomes a burden for customers; therefore, startups like CASHe offer a much affordable option to repay the loan. In the coming days, it will be interesting to see many startups stepping into the fintech sector.