Fintech Startup CashSuvidha Raises $1 Million Funding
Indian Fintech startup Cash Suvidha raises $1 million pre-Series A funding from the set of investors including Initia Holdings Ltd, Vipin Agarwal, Partner in India Industrial Growth Fund and others.
The new funding round will use to facilitate further lending to SMEs, MSME, individuals and improve the technology infrastructure.
Cashsuvidha is targeting users from Delhi NCR, Bangalore, Pune, Hyderabad, Mumbai, and Rajasthan locations to maximize borrowers.
According to the company, which registered as a Usha Financial Services receives around 15,000 loan applications per month and disburses loans within two working days.
The Delhi based company has raised total $5.2 million debt funding and distributed Rs 152 crore.
As per the data, Cashsuvidha 80% loan goes to SME sector.
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