India’s Digital Lending Startup CASHe Raises INR 12 Cr

Launched in April 2016, CASHe is an alternative lending platform delivered through an app. It provides unsecured short-term personal loans to young employed professionals based on their social profile, merit, and earning potential. The startup assesses applicants through a proprietary AI-based credit-scoring platform called the Social Loan Quotient (SLQ) which determines creditworthiness by using multiple unique data points based on social and mobile data footprints. On the basis of these parameters, each applicant gets a credit profile. CASHe competes with PaySense, LoanTap and EarlySalary, among several other startups in the space.

While speaking to Inc42 last year, CASHe founder Kumar revealed that the company had disbursed 85,000 loans worth INR 510 Cr in FY18, which is nearly 10X the INR 55 Cr it disbursed in 2016-17. The company had claimed to be receiving more than 1,000 loan requests in a given day, adding that the average ticket size ranged from INR 35,000 to INR 40,000. While Kumar had declined to share the company’s revenue projections for FY 2019-20, he had said that CASHe was on track to turn “highly profitable” in FY20.