CASHe Leads in the Fin-tech Based Personal Lending Business with over 25,000 Customers and 100 Crores Worth Loans Disbursed in 1 Year

Source: NewsVoir | Published on 28th June 2017, 2:30 PM | NewsVoir |
  • Fastest to reach 100 crores in loan disbursement in just over a year of operations. Making CASHe the leading and fastest growing loan giving app in the fin-tech based personal lending space

  • Establishes a growing and loyal customer base of over 25,000 salaried millennials

  • Targets total disbursements worth Rs. 500 crore by the end of FY 2017-18

  • Offers loans based on a combination of Big Data Analytics and proprietary AI and machine language algorithms enabling loan disbursals in under 10 minutes

  • Offers loans in the range of Rs. 5,000 to Rs. 1,00,000 payable over 15, 30 and 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 growing loan giving app for young salaried professionals has reached a phenomenal milestone of disbursing loans worth Rs. 100 crore to over 25,000 of its loyal customers. What makes this achievement even more commendable is that it has taken CASHe just over one year to reach this disbursement figure by amassing a huge loyal customer base through its technology-enabled lending platform and a robust product portfolio. The company said, it expects to reach a total loan disbursement of Rs. 500 crore by the end of FY 2017-18.

“The response to our product offerings has been fantastic. We have witnessed over 25% month-on-month (MoM) growth in customer base and over 45% MoM growth in loan disbursals since launch of operations,” said Mr. V. Raman Kumar, Chairman of Aeries Financial Technologies Pvt. Ltd. “We focused on developing the Social Loan Quotient (SLQ), our proprietary AI and machine language based technology platform which makes lending fast, automated and flexible. Our focus on introducing paperless lending and verification process and real-time tracking through technology has made us a clear market leader. This has helped most of our customers to get a hassle-free loan within 10 minutes with repeat customers being over 70 percent,” he added.

CASHe’s target customers are young working professionals in the age group of 25-35 years earning annual salaries ranging from 2.5 lakhs to 25 lakhs spread across India.

Press Office- Dream N Hustle Media Jashoda Madhavji 9892217007[email protected]

About CASHe

CASHe, India's fastest growing app-only lending company, provides immediate short-term personal loans to young professionals based on their mobile and social profile, merit and earning potential using its proprietary algorithm based machine learning platform.

In April 2016, Aeries Financial Technologies Pvt. Ltd., launched its innovative technology-driven lending platform for the young, urban professionals. CASHe provides almost instantaneous loans on-demand. Its user-friendly digital interface enables faster loan application and quicker loan disbursals. CASHe’s 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. CASHe is completely automated and requires no personal intervention and no physical documentation. The average time taken for a loan to be disbursed is less than 10 minutes, subject to proper submission of all documents.

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