Monday, January 23rd, 2017
CASHe, Andromeda Ink Partnership Deal
Andromeda, India’s largest financial distributor will now sell CASHe’s mobile-enabled short-term loan products
Launched on April 1 2016, CASHe is currently disbursing 10 crores of loans per month
CASHe offers loans ranging from Rs. 5,000 to Rs. 1,00,000 payable over 15, 30 and 90 days
Aeries Financial Technologies Pvt. Ltd., a fin-tech company promoted by serial entrepreneur and private equity investor Mr. V. Raman Kumar, today announced that CASHe, India’s fastest loan giving app for young salaried professionals, has entered into a strategic sales partnership with Andromeda India’s largest financial distributor. With this sales collaboration, the customers registered with Andromeda will now have easy access to instant short-term credit facility from CASHe through its multiple loan options ranging from Rs 5,000 to Rs 1,00,000 payable over 15, 30 & 90 days.
“We are excited to partner with Andromeda, India’s largest financial distributors”, said Mr. V. Raman Kumar, Chairman, Aeries Financial Technologies Pvt. Ltd. “Andromeda’s large customer base can now avail loans within minutes on a smartphone. We believe access to quick and easy credit without any collateral and documentation is an exciting proposition for the young salaried professionals. With our partnership with Andromeda, we hope to increase our customer base exponentially”, he added.
“We are very impressed with CASHe’s phenomenal growth since its launch”, said Mr. V. Swaminathan, CEO, Andromeda.“Offering a technology-enabled financial platform like CASHe to our customers fits right into our product portfolio. We see a huge demand for an offering like this and we are very encouraged to work with CASHe and provide our customers with financial solutions that are hassle-free and convenient." He further commented, “CASHe’s algorithm-driven credit scoring methodology, The Social Loan Quotient, is very impressive and I am sure it will set an industry benchmark on how customer’s credit is profiled in the future.”
CASHe provides hassle-free loans with its app enabled documentation and loan disbursal/repayment process. Powered by its industry-first algorithm driven credit scoring platform, The Social Loan Quotient (SLQ), CASHe quickly determines a user’s credit worthiness by using multiple unique data points to arrive at a distinct credit profile of the customer. SLQ is transforming the traditional credit rating measurements thereby providing immediate loans to the under-served young professionals who are kept out by traditional credit rating and banking systems. CASHe is completely automated and requires no personal intervention and no physical documentation. The average time taken for a loan to be disbursed is about 8 minutes, subject to proper submission of all documents.