CASHe

CASHe operates as a credit-centric financial technology platform in India, established in 2016 by V. Raman Kumar and Sudhir Appukuttan Panikassery. The company was founded to address the financial needs of young, salaried millennials and Gen Z individuals often underserved by traditional banking institutions due to insufficient credit history. Kumar, a serial tech entrepreneur with a background in the Indian Revenue Service and experience leading a NASDAQ-listed company, identified a gap in the market for accessible credit for this demographic. The firm is operated by Aeries Financial Technologies Pvt. Ltd and is a product of the Singapore-based holding company TSLC PTE. LTD.

The company's business model is centered on providing a range of financial products through a fully digital, mobile-first platform. Revenue is primarily generated from interest on personal loans, which is its main income driver. Additional revenue streams include processing fees, transaction fees, and commissions from services like digital gold purchases, insurance, and investment products. For the fiscal year ending March 2024, CASHe reported revenue from operations of ₹650.9 crore. The platform functions on a B2C basis, providing unsecured personal loans, credit lines, and 'Buy Now, Pay Later' (BNPL) options. It partners with banks and other financial institutions to secure the necessary funds for its lending operations.

CASHe offers a suite of financial products accessible via its mobile application, including instant personal loans ranging from ₹7,000 to ₹300,000, with repayment tenures from two to 18 months. A key feature is its proprietary credit scoring algorithm, the Social Loan Quotient (SLQ), which utilizes artificial intelligence and machine learning to analyze alternative data points from a user's digital footprint. This allows the company to assess the creditworthiness of individuals who are new to credit or have a limited credit history. Beyond personal loans for various needs like medical expenses or travel, the platform also provides a pre-approved credit limit, BNPL services, digital gold investments, and insurance products. In a strategic expansion, the company acquired wealth-tech platform Sqrrl to integrate wealth management services.

The target market primarily consists of salaried professionals, millennials, and Gen Z, including those in Tier-2 and Tier-3 cities, aiming for broader financial inclusion. Significant milestones include disbursing over ₹10,000 crore in loans by June 2024 and reaching over 40 million user registrations. The company has also established a technology excellence center in Hyderabad to bolster its in-house digital engineering capabilities.

Keywords: digital lending, personal loans, fintech India, financial wellness, credit scoring, Social Loan Quotient, BNPL, buy now pay later, salaried professionals, millennials, Gen Z, mobile lending, instant loans, credit line, financial inclusion, alternative data, wealth management, V. Raman Kumar, Aeries Financial Technologies, online loans