Cash Suvidha, an India-based fintech firm, has secured $1 million through its Pre-Series A funding round. Founded in 2016, The company is a trade name of Usha Financial Services. Its mission is to help the ambitious people by providing them a wide range of loans including entrepreneur loan, SME Loan, invoice finance and women empowerment loan.
“Driven by an ethical, enthusiastic and enterprising approach, we’ve been able to redirect the Indian entrepreneurs from the inevitable challenges they face while starting a new business or enlarging the old. Our company is prudent and punctual in the disbursement of loans that are blessed with smooth lending policies as well as best-in-the-industry interest rates. In that agenda, we have established a strong foundation of brilliance that’s further segmented into two dissimilar units – the core team and the advisory team.”
According to Business Standard, Initial Holdings, Vipin Agarwal, and Partner in India Industrial Growth Fund participated in the Pre-Series A funding round. Cash Suvidha founder, Rajesh Gupta, stated:
“This capital infusion would help us in widening our horizon and in extending our best alternative lending services across geographies. We have recently started our operations in Kota and Jaipur. Our next destination is Ajmer and other parts of Rajasthan. After covering Rajasthan we will move towards Gujarat and other, parts of India.”
The funds from the round will be used to increase loan books, further strengthening the company’s technological infrastructure, facilitate further lending to SMEs and individual loan needs.