Posted by Mumbai: CheQ Digital, a pre-product fintech firm founded by Aditya Soni, has raised $10 million in a seed round led by marquee investors.
Venture Highway and 3one4 Capital led this investment round. Multiply Ventures, Marshot Ventures and Veda VC also participated in this round.
CheQ will primarily use the raised fund for building its team and launching the product along with investing in technologies. It will launch the product in the market over the next few months.
Other marquee investors like Naveen Kukreja (CEO – PaisaBazar), and Shailaz Nag (Founder and CEO – Dotpe) among other angel investors are also backing this credit management fintech startup.
“Customers are forced to go through different repayment experiences on different platforms with highly varying schedules of charges and penalties. We are developing a customer first platform which focuses on improving the credit health of customers by making it easier for customers to track, manage and pay all their credit payments in one platform”, said, Aditya Soni, Founder and CEO of CheQ.
“The fundraising is a massive vote of trust from the investors and further validates our hypothesis that we are behind a large problem statement which must be solved”, added Aditya.
CheQ aims to simplify the discovery and management of all credit products for customers and give them a 360-degree view, thus encouraging them to exhibit prudent behavior and make sound decisions on their credit products.
“A single source of truth for all our credit, what it means for us as customers and the most intuitive way to manage repayments at one go is a problem waiting to be solved! CheQ as a concept and the founding team, we believe, is the best to do so,” Priya Mohan, Partner – Venture Highway.
According to Nitya Agarwal, VP – 3one4 Capital, CheQ is reimagining financial discipline for the masses by solving for end-to-end credit management. With the rise of BNPL and credit penetration in India, the end-users have limited awareness of the various financial products that they are signing up for.
“We’re excited to work with CheQ as they build a robust unified repayment platform to empower users to manage their credit in a more rewarding and disciplined manner,” said Agarwal.