Digital lender CASHe secures Rs 140 crore equity from TSLC
By siliconindia | Wednesday, 05 January 2022, 23:27 Hrs
CASHe, a credit-led and AI-driven financial wellness platform, on Wednesday said it has closed Rs 140 crore of equity funding from its Singapore-based holding company TSLC.
“The latest round of capital infusion strengthens the Mumbai-headquartered fintech company’s balance sheet size to over Rs 800 crore which constitutes about Rs 300 crore in equity and over Rs 500 crore raised through debt from a well-diversified pool of leading private banks and reputed NBFCs," it said.
With this fresh capital, the company said it will continue to boost its profitability, enhance its existing product lines such as personal loans, BNPL, credit line and embedded card business.
“It aims to launch new offerings in WealthTech and ramp up its investments in operations, product development, data sciences, and technology. It strives to double its team strength across domains to manage future growth seamlessly. It also seeks to expand its loan book to Rs 3,000 crore and upscale its user base to 1 million from the current 4 lakh customers, in FY 2022-23," the company said.
V. Raman Kumar, founder chairman of CASHe, said that achieving the Vision 3.0 is the next frontier for its 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," said Kumar.