Thursday, March 2, 2017
CASHe Disburses 1 Crore Loans Per Day and Aims At 30 Crore Disbursements by March 2017
Aeries Financial Technologies Pvt. Ltd., a fin-tech company promoted by serial entrepreneur and private equity investor V. Raman Kumar, today announced that CASHe, India’s fastest loan giving app for young salaried professionals is now disbursing loans well over 1 Crore per day in less than a year of operations. CASHe now processes an average of 450 loan applications per day for young salaried professionals. CASHe is now India’s leading and most preferred fintech company in the personal lending space.
Launched in April 2016, CASHe offers loans based on a combination of Big Data Analytics and proprietary Artificial Intelligence based algorithm, the Social Loan Quotient, which enables loan disbursal within 8 minutes.
“We have seen a fantastic response to our loan products with a month-on-month 45% growth in customer base and 60% growth in disbursal value in the past few months,” said V. Raman Kumar, Chairman, Aeries Financial Technologies Pvt. Ltd. “Our loan disbursements now stand at 1 crore per day and we have achieved a significant milestone of processing over 450 loan applications on a daily average – all this within a year of setting up our operations. We are now well set to disburse loans worth 30 crores for March 2017. CASHe has embarked on a tremendous growth trajectory to achieve a loan disbursement value of Rs 100 crore for the month of December 2017. We have leveraged innovative technology along with our proprietary Artificial Intelligence based algorithm platform, the Social Loan Quotient, to make loan disbursal hassle free for our customers, leading to over 70 percent of them returning for fresh loans.” he added.