V. Raman Kumar’s CASHe Dives into Wealth Management with Sqrrl Acquisition, Building a Holistic Financial Wellness Platform

In a strategic move, V. Raman Kumar’s CASHe, an AI-driven credit-led wellness platform, has ventured into the wealth management space through the acquisition of Gurgaon-based Sqrrl in an all-cash deal. The move aligns with CASHe’s vision 3.0, aiming to transform into a comprehensive financial wellness platform. The acquisition, backed by CASHe’s recent equity funding of Rs. 140 crores, marks a significant step towards offering a holistic suite of financial services to its user base.

CASHe’s vision 3.0 focuses on evolving into a full-stack wellness platform catering to the evolving needs of its user demographic. With over 20 million users on its credit-led wellness platform, CASHe is strategically expanding its offerings to include wealth management services. The acquisition of Sqrrl, an established player in the vernacular WealthTech space, presents a synergistic opportunity to integrate credit and investment solutions seamlessly.

The acquisition enables CASHe users, predominantly millennials and GenZ, to access Sqrrl’s digitally enabled, mobile-first investing platform. This platform facilitates byte-sized investments, allowing users to kickstart their investment journey with amounts as minimal as Rs. 100. CASHe’s foray into the WealthTech space reflects its commitment to addressing the diverse credit and investment needs of the new-age Indian demographic.

CASHe’s acquisition of Sqrrl is supported by its robust financial position, with surplus capital facilitating the all-cash deal. This move comes on the heels of CASHe’s successful equity funding round of Rs. 140 crores from TSLC Pte Ltd, its Singapore-based holding company. The acquisition positions CASHe for accelerated growth and reinforces its commitment to delivering innovative financial solutions.

The acquisition brings together CASHe, a credit-led wellness platform with a massive user base, and Sqrrl, India’s first vernacular app in the WealthTech space, serving over 5 lakh users across 600 cities. The synergies between the two platforms create a unique proposition, combining credit and investment services to meet the comprehensive financial wellness needs of the evolving Indian consumer.

V. Raman Kumar, Founder Chairman of CASHe, sees the acquisition as a crucial milestone in realizing CASHe’s vision 3.0 roadmap. The integration of credit-led services with Sqrrl’s digital-first wealth and investment management offerings aims to provide multi-product access and next-gen financial wellness solutions.

Samant Sikka, Co-founder of Sqrrl, expresses confidence in the move, anticipating the scale-up of the wealth management business by offering Sqrrl’s investment products to CASHe’s extensive customer base. The strategic focus remains on stable and sustainable growth in the wealth management segment.

As V. Raman Kumar steers CASHe into the WealthTech domain, the brand is poised to become a one-stop financial wellness destination. CASHe’s commitment to offering diverse financial products aligns with the evolving preferences of its user base. The acquisition of Sqrrl propels CASHe into a new era, reinforcing its position as a leader in the financial wellness space.

In conclusion, V. Raman Kumar’s strategic vision, coupled with CASHe’s robust financials, positions the platform for significant growth. The integration of credit and wealth management services through the acquisition of Sqrrl marks a pivotal moment in CASHe’s journey towards holistic financial wellness for the millennial and GenZ demographic.