New Delhi, May 08, 2018: Cash Suvidha, trade name of Usha Financial Services and one of the leading Fintech players in the industry has been awarded and acknowledged as one of the ‘Most Promising NBFCs to watch out for’ in the country at the 3rd edition of NBFC100 Tech Summit, held on 27th April 2018.
The summit was held to bring various stakeholders, technology partners and the policymakers under one roof to focus upon the changing dynamics of the financial sector and projecting the role of NBFCs in ensuring the same.
Upon receiving the award, Mr. Utkarsh Gupta, Partner Growth & New Initiatives, Cash Suvidha (Trade name of Usha Financial Services), said, “NBFCs form an integral part of the Indian financial system, playing an important role in the Government’s agenda of financial inclusion. Usha Financial Services is a category-B NBFC which caters to the unbanked sections of Indian society under the regulatory oversight of the RBI. We are embracing technology for a brighter future as tech-driven innovations continue to play an extremely important role in transforming the way financial services are undertaken.”
Cash Suvidha, which extends business loans to SMEs, MSMEs, startups and women entrepreneurs & personal loans to individuals has disbursed around Rs 122 crore of loans in the Financial Year 2017-2018 and aims to disburse Rs 400 crore loan amount by the end of March 2019.
The company is known for its quick digital processing, easy lending services and disbursing loans within two working days. By making use of its proprietary Artificial Intelligence (AI) driven systems, Cash Suvidha is able to determine the best leads for credit and match them with the perfect kind of product.
About Cash Suvidha:
Cash Suvidha; a trade name of Usha Financial Services, is a Startup Fintech company, which extends business loans to SMEs, MSMEs, Personal Loan and women entrepreneurs for income generation purpose & personal loans to individuals. Apart from stirring the journeys of budding and longstanding entrepreneurs, Cash Suvidha, also deals with women empowerment on a micro level.
Cash Suvidha aims to fill market gap that’s not allowing visionaries in uplifting their dreams towards real touch of business world – establishment or enlargement of a profit-making entity.
Cash Suvidha has efficiently served customers right from the era of cash to emerging cashless economy. Digital banking is an integral part of their operations. Through Cash Suvidha, digital-savvy entrepreneurs can avail financial services seamlessly as they navigate through their progressively digitized lives.
In terms of growth story, Cash Suvidha began its operations in May 2016 after which they have been playing a significant role in empowering people to fulfil their ambitions. Within a short span of one year of its operations, company has tied up with over 18-20 players to expand business across India and has targeted a 4x increase in processing loan applications. In terms of future plans, Cash Suvidha is targeting more tie-ups for business expansion.
Since its inception, Cash Suvidha has disbursed to 35,000+ borrowers and the average ticket size of loan is Rs 20,000- Rs. 5,00,000.