Cashe Acquires Centcart to Expand Insurance Distribution

Credit-focused fintech platform Cashe has acquired Centcart Insurance Broking Services. This move will enhance Cashe's ability to distribute a wide range of insurance products. The acquisition aims to provide policy recommendations, claims assistance, and online purchasing options. It also aligns with Cashe's focus on rural and semi-urban sectors.

Credit-focused fintech platform Cashe has announced the acquisition of Centcart Insurance Broking Services for an undisclosed amount. The strategic move is aimed at expanding Cashe's reach into insurance distribution, providing services across life and general insurance categories from all Indian insurance companies.

The acquisition follows Cashe's similar strategy in 2022 when it entered the wealth management space by acquiring Sqrrl. The company will now offer policy recommendations, claims assistance, customised risk management solutions, instant quotes, and online purchasing options.

The strategic acquisition is aligned with Cashe's focus on reaching rural and semi-urban sectors. Currently, Cashe boasts a customer base of 5 crore. Aeries' founder V Raman Kumar highlighted that the acquisition marks a significant milestone, enabling personalized product recommendations to all users of the platform.

(With inputs from agencies.)