Money-Lending App CASHe Raises Rs 20 Cr Debt Funding
Aeries Financial Pvt Ltd owned CASHe has raised around Rs 20 Crore debt funding from IFMR Capital, as per the financial daily report.
Mumbai based CASHe is one year old and plans to utilise fresh funds in accelerating its growth and build a loan book of subsidiary Bhanix Finance and Investment Ltd.
The company had raised Rs 25 crore ($3.8 million) in series-A funding in April this year from former Blackstone PE head Mathew Cyriac and other investors.
“The partnership aligns with our approach of taking exposure to high quality originators at an early stage to give them access to investors through structured product solutions,” said Kshama Fernandes, CEO, IFMR Capital.
The startup disburses small amount, short-term loans to young and salaried professionals using an algorithm that det...