CASHe disburse loans worth Rs 650 cr, aims at Rs 2k cr by FY 20

Digital lending platform CASHe Monday said it aims to disburse loans worth Rs 2,000 crore in the next fiscal.

The company said it has disbursed loans worth over Rs 650 crore through its mobile-only lending platform in less than three years of operations.

It has witnessed a year-on-year growth of over 80 per cent for unsecured loans ranging from Rs 10,000 to Rs 2 lakh, the firm said.

The company has disbursed 3 lakh loans to over 1,80,000 customers with an average daily disbursal of Rs 2 crore, it said.

"The increase in loan outlay of Rs 2,000 crore for the next fiscal is mainly attributed to the substantial rise in the average loan ticket size, higher demand of loans from urban working millennials from top corporates and blue-chip companies based in tier 1 & 2 cities," it said.

CEO Ketan Patel said the company is focussed towards achieving the target by 2019-20.

"By disbursing Rs 650 crore in loans within a span of 33 months, CASHe has propelled itself as the largest digital lending application in India. Over the past year, we have witnessed a strong growth from urban working millennials in securing unsecured short-term personal loans from CASHe," Chairman V Raman Kumar said.

(With inputs from agencies.)