CASHe Inks Partnership Deal With Paytm & Andromeda

Aeries Financial Technologies Pvt. Ltd., a fin-tech company promoted by serial entrepreneur and private equity investor Mr. V. Raman Kumar made two announcements today.

CASHe, India’s fastest loan giving app for young salaried professionals has entered into a strategic sales partnership with India’s largest financial distributor, Andromeda. 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.

CASHe has also partnered with India’s largest mobile payments and commerce firm, Paytm to allow its users to deposit cash transfers from CASHe to their Paytm wallets. With this integration, users of CASHe now have an option to transfer their loan amounts into their Paytm Wallets in part or in full and credit the rest of the amount into their bank accounts. This is an industry-first innovation from CASHe.

Speaking about the Paytm partnership, Mr. V. Raman Kumar, Chairman, Aeries Financial Technologies Pvt. Ltd states, “The mobile wallet usage has grown exponentially over the last few years. We are excited with our partnership with Paytm, the leader in digital payments in India. Both CASHe and Paytm stand to gain with this integration. Our easy-to-use mobile application platform will now offer an option for our users to directly credit their loan amounts into their Paytm accounts in parts and the rest can be directly credited in to the bank accounts. With their wallets now funded, our customers can use Paytm to pay for various transactions. The integration with Paytm is in line with our product expansion strategy to continuously innovate and offer benefits to our customers”.

Speaking about the Andromeda partnership, Mr. V. Raman Kumar, Chairman, Aeries Financial Technologies Pvt. Ltd states, “We are excited to partner with Andromeda, India’s largest financial distributors. 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.”

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.