Cash Suvidha raises $1 million in pre-series A

Delhi based fintech company Cash Suvidha has raised pre-series A funding of $1 million from Initia Holdings, Vipin Agarwal, Partner in India Industrial Growth Fund and others. Earlier in February this year, the company had raised $2.5 million in debt financing.

Cash Suvidha was founded by brothers Rajesh Gupta and Anoop Garg in April 2016 and provides business loans to startups, micro, small and medium enterprises and women entrepreneurs.

Since inception it has disbursed loans worth Rs.130 crore and has raised a total debt of $5.2 million. The company has an in-built Suvidha Social Score to analyse the credibility of borrowers. The average ticket size of loans offered by the company range between Rs. 20,000 to Rs. 50,0000.