CASHe is a fintech organization that gives quick, adaptable, unstable individual advances through a portable application to youthful salaried millennials across India.
With the acquisition of the Gurugram-based wealth tech stage Sqrrl, It has marketed the entry into the WealthTech space.
According to the founder, and chairman, It’s a substantial deal that would be principally subsidized from the startup’s overflow capital.
“The acquisition of Sqrrl is an important milestone for CASHe’s vision 3.0 roadmap as it sets the stage for the next phase of our growth through our foray into the WealthTech space. ~ V. Raman Kumar, Founder and Chairman, CASHe
Expectations From The Acquisition
CASHe (the social loan company) is India’s preferred AI-driven credit-led wellness platform founded in the year 2016 by V. Raman Kumar. He wanted to showcase that ordinary credit assessment measurements were tragically deficient.
So he came up with India’s most preferred digital lending platform, giving credit to those that didn’t fit the bill for credit from customary loaning offices and those that were new to credit.
Sqrrl is a wealth management platform founded by Samant Sikka (Chief Dreamer), Sanjeev Sharma and Dhananjay Singh. The group attempts to improve personal finance for a huge number of youthful Indians.
Sqrrl seeks to solve all investment-related confusion. It comes to the rescue at the point when funds and investment funds puzzle you. This mobile-first savings and investment stage connects with its crowd through nine dialects,
The joined foundation of CASHe and Sqrrl seeks to the developing assumptions and inclinations of its clients in significant urban areas as well as in level 2 and 3 towns initiating the ascent of a new and potent India.
They look to accomplish these objectives by offering multi-item access and cutting-edge monetary well-being arrangements.
Sqrrl is a very brief period constructed a comprehensive, computerized digital-first wealth management platform that encourages its clients to go with brilliant little ticket speculation choices.
“We are delighted to join CASHe – a company that brings enormous experience and passion in empowering the GenZ and Millennials to achieve their financial ambitions. We have grown the wealth management business into being a partner of choice for our discerning customers. This move will help the business scale up further by offering Sqrrl’s investment products to CASHe’s massive customer base with just a few clicks. We will continue to focus on our strategy centred around stable and sustainable growth in the wealth management business with the largest footprint of customers and thereby creating a true one-of-a-kind company.” ~ Samant Sikka, Co-founder, Sqrrl.
CASHe and Sqrrl will attempt to develop the client base at a dramatic speed. Both the platforms will make a flawlessly installed industry-first LendTech, InvestTech, and InsureTech stage offering the full array of monetary administrations.
The deal will be essentially supported by its overflow capital, mirroring the organization’s solid monetary position as the acquisition comes close behind CASHe raising Rs. 140 crores in value financing from TSLC Pte Ltd (Singapore-based holding organization).
“Backed by a strong management team with deep industry expertise, Sqrrl has done exceptionally well in a short period to build a holistic, digital-first wealth management platform that advises its users to make smart small ticket investment decisions, without the hassle of tedious paperwork. The combined teams of CASHe and Sqrrl will work to grow the customer base at an exponential pace” ~ Joginder Rana, Vice Chairman and Managing Director, CASHe.