With this new capital, the company will continue to increase its profitability, improve its existing product lines such as personal loans, BNPL (Buy Now Pay Later), lines of credit and integrated card activities, according to a statement. .
It aims to launch new offerings in WealthTech and increase its investments in operations, product development, data science and technology, he said.
“We’ve set our goals to become a full stack, credit-driven financial wellness platform of choice for the Millennial and Gen Z cohort. The new capital injection reflects a significant level of balance sheet maturity,” of CASHe’s profitability and business model, ”said CASHe Founding Chairman V Raman Kumar.
The company is looking to expand its loan portfolio to Rs 3,000 crore and increase its user base to Rs 1 million from current 4 lakh customers in fiscal year 2022-2023, the statement said.
It has disbursed over Rs 1,000 crore in loans during the nine months of this fiscal year and is ready to disburse over Rs 1,400 crore during fiscal years 21-22.
Latest round of capital injection bolsters Mumbai-based financial technology firm’s balance sheet size to over Rs 800 crore, which is roughly Rs 300 crore in equity and over Rs 500 crore raised through debt a well-diversified pool of leading and reputable private banks. NBFC, according to the statement.
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