Paisabazaar.com Ties up with CASHe for Short-Term Personal Loans

Paisabazaar.com, India’s No. 1 Loans and Cards Marketplace, today announced a strategic partnership with CASHe, India’s fastest loan-giving app for salaried professionals. This tie-up enables CASHe to offer short term personal loans on the Paisabazaar.com platform to salaried millennials, who otherwise do not qualify for credit from traditional banks and financial institutions.

Speaking on the partnership, Naveen Kukreja, CEO & Co-founder, Paisabazaar.com, said, “As a market leader in the lending space, we get customers from across the spectrum on our platform - HNIs, entrepreneurs, young salaried professionals, low income profiles etc. These customers have varied credit profiles, with credit scores ranging from ‘Excellent’ to ‘Poor’. In line with this, we are delighted to partner with CASHe to help improve access to credit for young salaried professionals with below par credit scores. Not only is it a great platform to access credit for short term, it’s also an excellent medium for consumers to behave responsibly on this loan and build their credit profile. We look forward to providing credit to thousands of customers over the next few months through this partnership.”

Paisabazaar.com and CASHe are together targeting to disburse 35,000 loans by the end of 2017. Paisabazaar.com in 2016-17 was the only online financial player to disburse loans worth Rs. 2,500 crore. By the end of this financial year, it aims to hit an annualized disbursal of Rs. 6,000 crore.

V. Raman Kumar, Chairman, Aeries Financial Technologies, said, “Paisabazaar is the marketplace leader in online financial products and has a loyal and growing customer base across India. By Introducing CASHe’s app-based short-term loan products on its platform, we look forward to leveraging the platform’s wide distribution network and its strong customer portfolio, especially in the short-term lending space. We are confident that this partnership will create a win-win situation for customers who would not qualify for any loan from traditional lending institutions. They will now have access to CASHe’s short-term loan products on a single platform. I am truly thrilled by this partnership.”

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. The average time taken for a loan to be disbursed is about 8 minutes, subject to proper submission of all documents.

About CASHe

CASHe, India's fastest growing app-only lending company, provides immediate short-term personal loans to young professionals based on their social profile, merit and earning potential using its proprietary algorithm based machine learning platform.

In April 2016, Aeries Financial Technologies Pvt. Ltd, launched its innovative technology-driven lending platform for the young, urban millennials. CASHe provides almost instantaneous loans on-demand. Its user-friendly digital interface enables faster loan application process and quicker loan disbursals. 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, 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. 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. CASHe’s target audience is young working professionals in the age group of 23-35 years. CASHe offers loans from Rs. 10,000 to Rs. 2,00,000 payable over 15 - 180 days.

For more information, please visit www.cashe.co.in .

About PaisaBazaar.com

Paisabazaar.com is India's largest online financial marketplace for loans and Credit Cards. It offers all a complete spectrum of lending and investment products for retail customers.

Paisabazaar.com currently partners with more than 60 partners across lending and investment categories with 100+ products on offer.

Since its inception in early 2014, the company has marked a staggering growth and now has over 33 million visitors coming to its website each year.

It is the only financial player to disburse loans worth Rs. 2500 crore worth in a financial year (2016-17).

The company is targeting a 3X growth and aims to cross Rs. 6000 crore annualized disbursal run rate by the end of this financial year. It plans to touch annualized disbursal of Rs. 25000 crore by 2020.

The portal has been conferred with Economic Times "Best BFSI Brand Award", Money Tech “Startup of the Year” and Money Tech “Best Customer Experience Innovation” in the last one year.  Apart from this, Paisabazaar.com has been recognized as an “Emerging Brand” at the prestigious CMO Asia Awards, as well as by Indian Brand Convention.

Paisabazaar is part of Policybazaar group, India's largest online insurance platform and is an InfoEdge (Naukri.com), Premji Invest,  Tiger Global Management, Temasek, Steadview Capital, Ribbit Capital and Inventus Capital Investee Company.