cashe: Cashe forays into wealth management

Shopper credit score supplier Cashe has forayed into wealth administration with the acquisition of Gurgaon-based funding platform Sqrrl Fintech in an all-cash deal. The deal is topic to regulatory approvals. Cashe had acquired Rs 140-crore fairness funding in January from its Singapore-based holding firm TSLC Pte Ltd. At the moment it had stated it plans to enter the wealth administration house.

“An enormous a part of our plan is to broaden our choices to cowl funding and insurance coverage merchandise. Our final fundraise was for this growth as effectively,” stated V Raman Kumar, founder and chairman of Cashe.

As part of the deal, Sqrrl’s 10-member workforce will be a part of Cashe, whereas its founders will be a part of the senior management of the digital lender.

With the acquisition, Cashe will present mutual funds, mounted deposits and different funding choices to its prospects. Sqrrl will retain its id and function as an unbiased platform.

Cashe, based in 2016, offers digital lending merchandise, together with private loans, a credit score line and buy-now-pay-later (BNPL) providers to prospects. It claims it has 20 million prospects and that it disburses Rs 200-220 crore in loans each month.