据了解，Cash Suvidha主要为一些没有传统信用评分的贷款申请人提供服务，该公司有一套专属信用评分机制，名叫“Suvidha Score”，可以通过社交媒体查看贷款申请人的教育和专业背景，还能追踪他们的生活方式支出、付款行为和消费模式，然后进行信用评分。除了向个人借款人提供贷款服务之外，还向中小企业和女性创业者提供贷款服务，以解决他们的运营资金周转难题。目前在Cash Suvidha平台提供贷款利率一般在19-28%之间，只要获得批复，用户就能够在48小时之内拿到贷款，其现阶段，该平台每月会收到1.5万份贷款申请，而且已经向2.7万多名借款人提供了超过1600万美元的贷款。
Delhi-based Usha Financial Services Pvt. Ltd, which operates online microlending platform Cash Suvidha, has raised $2.7 million (Rs 17.31 crore) in debt funding, a company statement said.
The one-year-old startup raised this amount from six financial institutions, the statement added but not reveal the identity of these lenders. The latest round takes the total debt funding raised by the company to $3 million (Rs 19.2 crore) since its inception.
Rajesh Gupta, the co-founder of the venture, stated that the funds will be used to replenish its loan books and underwrite loans.
Cash Suvidha was founded in June 2016 by Gupta, Anoop Garg and Geeta Goswami. It offers micro-business loans to small-and-medium enterprises and women entrepreneurs besides extending personal loans to individuals. It also services potential applicants who fall outside of the traditional credit scoring platforms.
The company, which lends at an interest rate ranging between 19% and 28%, claims to disburse loans within 48 hours of its application, with the average loans application size being Rs 50,000.
A proprietary credit scoring mechanism, dubbed ‘Suvidha Score’, is deployed while assessing the creditworthiness of the applicants. The assessment mechanism largely relies on social media portals to check educational and professional backgrounds, tracking lifestyle spends, payments behavior, and spending patterns.
Cash Suvidha, which receives around 15,000 applications per month, has dispersed loans worth Rs 102 crore ($16 million) to more than 27,000 borrowers till date. Going forward, it plans to expand its operations five-fold, besides processing loan applications and will focus on markets like Delhi NCR, Bangalore, Pune, Hyderabad and Mumbai.