CASHe is an online lending and personal loan platform that announced a 16 percent increase in operational revenue to Rs 650.9 crore in FY24. The startup provides a digital platform with several loans for customers. The firm allows users to obtain personal loans with customized terms and repayment options. These lending services are the company’s primary source of revenue.
The startup also provides buy now pay later options on products to salaried individuals. The firm also earns its income through operating services which stood at Rs 158.4 crore in FY24. The interest income contributed Rs 17.6 crore bringing the overall revenue to Rs 668.54 crore in this financial year. The service sales decreased by 6.2 percent and stood at Rs 492.52 crore in the same duration.
The company has secured over 38 million USD across multiple funding rounds, including $19 million raised during its series B funding round led by Singapore-based company TSLC in 2022. The data intelligence platform, tracxn mentioned that the Surendra Kedia Family is the largest institutional investor of the firm.
The Mumbai-based startup allows users to take loans for businesses and individuals. The online platform uses artificial intelligence technologies to calculate the credit scores of under-banked individuals and offer the best user experience. This lending startup allows consumers to manage and make secure and safe transactions.
The impairment loss on financial assets increased by 26.9 percent to Rs 256.84 crore in FY24. This cost accounted for 38.58 percent of the total expenses. The customer acquisition cost also increased by 63.5 percent and stood at Rs 40.38 crore. However, the financial cost saw a 20.8 percent increase to Rs 147.39 crore in this financial year.
The fintech company plans to improve its business model while offering more innovative lending solutions, positioning it well in the global market. Employee benefits increased by 29.5 percent with a 41.1 percent growth in collection expenses. The firm’s total expenditure saw a 22.4 percent growth and crossed Rs 665.8 crore in FY24.
The EBITDA margin stood at 23.21 percent while the ROCE was around 40.21 percent in the same duration. The company’s profit also decreased by 94.5 percent to Rs 1.44 crore in this fiscal year. The company faces competition from other lending platforms such as Money View, Navi, and Branch.
Conclusion :
CASHe announced a 16.1 percent increase in operational revenue to Rs 650.9 crore in this financial year. The lending startup offers customized loaning options to individuals. The sales of services and interest income is the company’s major source of revenue. The company has investors including Long Blockchain and TSLC.
The startup reported a 94.5 percent decline in its profit to Rs 1.44 crore in FY24. The total expenditure increased by 22.4 percent and crossed Rs 665.8 crore in the same duration. The company plans to manage its losses by controlling its expenses on employee benefits. The employee benefits, customer acquisition, and other costs increased the total expenses by 22.4 percent in the same duration.
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