CASHe Announces Its Acquisition Of Sqrrl Over 20 million users of CASHe can now access a digitally-enabled, byte-sized investing platform with just INR 100
By Teena Jose
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CASHe, an AI-driven credit-led financial wellness platform, has announced its foray into the wealth management space with the acquisition of Sqrrl, a Gurgaon-based wealthtech platform. The strategic buy-out broadens CASHe's millennial-focused credit-led product and service suite to now cover their investment and wealth management needs as well.
"The acquisition of Sqrrl is an important milestone for CASHe's vision 3.0-roadmap as it sets the stage for the next phase of our growth. By integrating CASHe with wealth and investment offerings of Sqrrl, we aim to seamlessly fulfil the diverse credit and investment needs of the new-age Indian," said V. Raman Kumar, founder and chairman, CASHe.
The strategic acquisition will effectively capture the combinational synergies of both platforms to create a seamlessly embedded industry-first lend-tech, invest-tech and insure-tech platform for the digitally native Indians. Over 20 million users of CASHe can now access a digitally-enabled, mobile-first, byte-sized investing platform that will help them kick-start their investment journey with just INR 100. Post the acquisition, the co-founders of Sqrrl will continue to lead CASHe's wealth management business, according to the company's statement.
"We have grown the wealth management business into being a partner of choice for our discerning customers. This acquisition will help to scale up the business further by offering Sqrrl's investment products to CASHe's massive customer with just a few clicks," said Samant Sikka, co-founder, Squrrl.
Founded in 2017, Sqrrl is a wealth management platform that uses powerful data analytics and automated process to deliver the best possible investment experience at a lower cost. As per the statement by the company, the platform serves over 5 lakh users across 20,000 pin codes from more than 600 cities, whereas CASHe, an AI-based credit-led financial wellness platform, has transformed itself into a full-fledged financial services platform that offers its customers credit, investment, insurance and EMI shopping.
