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Chqbook funding

chqbook funding

Gurugram and Bengaluru-based fintech startup Chqbook on Friday announced that it has raised $1 Million from InnoVen Capital. The company will be using its funding to increase its loan book.

Over the following two years, Chqbook expects to lift $30 million of debt to scale its mortgage e-book, it stated.

Chqbook.com was founded by Vipul Sharma, Rajat Sharma, Sachin Arora, and Mohit Goel in 2017. It is a marketplace for small business owners, providing them merchandise around lending, credit cards, insurance coverage, accounts, and rewards.

Talking in regards to the new growth, Vipul Sharma, Founder, and CEO, Chqbook stated, “We have witnessed that 50 percent of all requests on the Chqbook App are credit-related. Hence, it becomes important for us to focus on that need right away.

We have credit lines from a select list of NBFCs and banks that will help us in meeting this demand. We are happy to have InnoVen as our partner in this growth, and we look forward to increasing our debt lines with them over the coming years.”

Ashish Sharma, MD, and CEO, InnoVen Capital India Pvt Ltd. added, “We’re excited to accomplice with Chqbook as they proceed to construct a financially inclusive ecosystem for small enterprise house owners. What is exclusive about Chqbook is its multi-product technique that may go a great distance in creating clients’ stickiness on their platform. Neobanks are uniquely positioned to serve this massive goal phase which makes it a fascinating alternative for us.”

InnoVen Capital India Private Limited provides debt capital financing services. The Company offers venture debt, acquisition financing, growth capital, Capex financing solutions, and other specialty lending services. InnoVen Capital India serves customers worldwide. With offices in India, Southeast Asia, and China, Innoven serves customers worldwide.

A few of the different early-stage buyers of Chqbook are Aavishkaar Capital, Harsha Bhogle, Bharat Shyam, Ken Glass, Rohit Chanana, Bhupesh Kumar, Amit Manocha, Amit Singal, Nilesh Shrivastava, and Sakshi Vij.

Chqbook.com is also the winner of many prestigious awards just like the ‘Greatest Monetary Inclusion’ at BW Competition of Fintech Awards 2021, Fintech Rocketship Award 2019 from the UK’s Division of Worldwide Commerce, Tech30 at YourStory TechSparks 2019, and the 2018 SuperStartups Asia Awards.

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