"We are the only pure app-based company at this point. The repayment option is either through bank transfers or cheque.
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The loans are made available through an NBFC called One Capital.Īfter you download the app on your mobile phone, you need to register through your social profiles on Facebook, Google+, or LinkedIn, fill your application form which requires four basic documents, pick your loan amount depending on your eligibility, and receive the amount in your bank account. All this is done by a complex algorithm which evaluates about a hundred data points, judging your interaction with your community," informs V Raman Kumar, founder of CASHe.ĬASHe is an app-only platform available at Google Play Store and Apple store which dispenses loans in a simple five-stage process. My other proxies are primarily their mobile usage, number of contacts on their phones, kind of apps they use, frequency of using ecommerce website, etc. "How do I rate someone as good or bad without having their credit information? I need other proxies. When you are a startup which lends to borrowers with no credit history or at best, a subpar credit rating, how do you judge their repaying capability? In the age of social media, where your social existence is as 'real' as other facets of your life, alternate lending startups are depending on social media activities to define a person's credit worthiness.įounded in 2016, CASHe makes use of the extensive data generated by a user on social media platforms to judge their credit worthiness in order to extend loans. Industry it operates in: Alternate lending