Delhi-based startup Fintech, Cash Suvidha has today announced that it has successfully supported the vision of over 32,000 SMEs, MSMEs, Startups and women entrepreneurs in India with its best alternative lending services. Founded by Mr. Rajesh Gupta and Mr. Anoop Garg with over 25 years and 21 years of experience, respectively, in the Business and Financial market, the startup envisions providing hassle free loans to its customers all across the country in a short span of time.
The Fintech startup receives around 15,000 loan applications per month. Since its inception the company has raised a total debt of $5.2 million and has successfully disbursed a total amount of 130Cr. With a successful business model and management, the company has been profitable since the beginning of its operations.
Commenting on the achievement, Mr. Rajesh Gupta, Founder of Cash Suvidha, said,“We have been closely monitoring the business environment and we see that small businesses in emerging markets, such as India, are facing a funding gap of $2 trillion. Cash Suvidha aims to help potential SMEs and MSMEs to propel by providing effective financial solutions in no time. We also help individuals to avail personal loans to pursue their aspirations by avoiding the tedious process of accessing funds from larger financial institutions. With our aim to provide easy access to credit and working capital to SMEs and MSMEs , 90% of our loans are targeted towards SME sector in India”
Started in April 2016 in Delhi, the company focuses on managing both the urban and rural credit requirements; thus benefitting the lower strata as well. The motive is to bridge the wide gap in the market and reach out to those who have no access to banks and financial institutions. In order to further enhance its penetration and to strengthen its network of operations, company has made strategic alliances with various other financial companies.