Imagine yourself as a salaried employee, and you are in immediate need of money just before the end of the month to meet an unexpected expense. The amount is minor, a fraction of your monthly pay, but somehow you need it within a couple of days. Now you have only one way out - asking for money from your relatives or friends.

There are a few reasons why you won’t want to approach a bank or NBFC for such a minor loan. It’s a frustrating and time-consuming process, with stringent requirements, complex procedures, and the need for collateral. Banks wont even bother giving you  a loan application form for such a small amount.

CASHe: An app-based credit lending platform was created to address the problem by offering instant underwriting and disbursal of short-term personal loans to individuals who have no formal credit history. 

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Meet the Tech Entrepreneur: V Raman Kumar

The story of V. Raman Kumar reads like a thrilling adventure novel, that every entrepreneur wishes for. As a tech entrepreneur and private equity investor, he has conquered the business world by founding M*Modal Inc, a voice recognition and healthcare document technology company that he grew from a start-up to a billion-dollar sale in 2012. 

His remarkable achievements earned him the prestigious Ernst and Young Entrepreneur of the Year 2007 award and the Maryland International Leadership Award in the same year. 

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Revolutionizing Borrowing: The CASHe Approach

CASHe was founded with the sole propose of solving a common problem faced by most young people in India:  The inability to obtain short-term personal loans instantly due to the lack of a formal credit history and humongous paperwork. This is a major roadblock for those who urgently need funds for unforeseen emergencies or expenses.

As CASHe founder V. Raman Kumar notes:

"The traditional credit scoring system in India is grossly inadequate in serving the large section of the population that is new to credit. They need a system that is innovative, transparent, and efficient."

The challenge for CASHe was to provide instant disbursal of loans without any cumbersome paperwork, while also being able to assess creditworthiness despite the absence of a credit history.

CASHe addressed this challenge by building a modern credit infrastructure platform from scratch, powered by our proprietary AI-based credit scoring mechanism and advanced data science technologies. The platform is designed to instantly evaluate a borrower's creditworthiness, without the need for traditional credit history checks.

Think the credit scoring mechanism as a doctor's diagnosis - instead of relying on traditional tests, CASHe’s AI-based system looks at various data points, such as a borrower's social media activity, mobile phone usage, and e-commerce transactions, to evaluate their creditworthiness. This allowed them to provide loans to those who would otherwise be deemed ineligible by traditional banks and financial institutions.

Through CASHe app, anyone across India with a smartphone can apply for a loan and receive an instant credit decision with SLQ (Social Loan Quotient), regardless of their credit history. This process takes only minutes, and the money is sent directly to the borrower’s bank account.

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Journey to Securing $25.7 Million Investment

Startups often struggle to raise funding, but CASHe has managed to secure 25.7 million dollars across four rounds from some of the leading investors including TSLC and Northern Arc. This is a testament to the company's ability to solve a genuine problem and tap into the potential of India's market. 

CASHe is addressing a critical gap in the financial services sector and investors recognize the value of this approach and have backed the company accordingly. 

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How CASHe Outwits Competitors in a Cut-throat Market

As the market for short-term personal loans continues to grow, the competition for CASHe has become increasingly cutthroat. With the emergence of new players such as MoneyView, Zest, Jupiter, Fi Money, and LazyPay, CASHe needs to innovate and move fast to survive.

Tech team is the backbone of CASHe responsible to drive innovation. The team works relentlessly to build and maintain the proprietary AI-based credit scoring mechanism and advanced data science technologies that power CASHe's modern credit infrastructure platform. CASHe prioritizes innovation to stay ahead, and they need the right tech team to do so. Therefore , instead of relying on traditional methods of Job portals and marketplaces for their tech hiring, CASHe hired Default. 

 With Default's expertise in finding and hiring the best talent, CASHe is confident that it will always have access to the finest tech team.

Empowering CASHe with Elite Django Developers

Cashe, being a modern credit infrastructure platform, heavily relies on cutting-edge technologies to provide seamless services to its users. Any glitches or issues with the web app can cause major disruptions to their business.  

Our team quickly understood the importance of hiring skilled Django developers for Cashe's success. Default has honed its expertise in sourcing Django developers through a carefully curated vetting process developed over the years, enabling them to assess and handpick only the most competent Django developers. 

We were able to quickly narrow down the pool of applicants, conduct initial screening interviews, and present only the most promising candidates to the CASHe team.

They trusted Default with their hiring requirements and they were able to hire a couple of highly skilled Django developers in just 7 days.

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Being Endorsed by CASHe's Leadership

The senior management at CASHe was impressed with Default's tech hiring expertise and have praised our  ability to understand the specific needs of their tech team and the challenges they faced.

Anil, EM at CASHe says.

"I am pleased to offer my highest recommendation for the staffing services provided by Default, and specifically for the outstanding developer they provided to our team, Priya and Sahil. Both Priya and Sahil consistently demonstrated exceptional dedication, dependability, and efficiency in their work, and have been a valuable asset to our team. 

With the support of Default, both developers ensured appropriate support for project releases and exceeded our expectations in every aspect of the job. I would not hesitate to recommend Default and their skilled and reliable developers to anyone in need of hiring services, and I look forward to continuing our successful partnership."

These testimonials speak to the value that Default brings to companies like CASHe that depend on their tech teams to drive innovation and stay competitive in their respective industries.

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All in All

CASHe's success in the highly competitive market of short-term personal loans is a testament to the power of innovation and technological advancement. By partnering with Default, CASHe was able to build a strong and agile tech team that consistently delivers cutting-edge solutions. The strategic use of Django developers enabled the company to stay ahead of the competition and provide its customers with fast, easy, and secure access to credit. CASHe is well positioned to explore new possibilities in the financial technology industry and we would love to be  a part of their journey in future.