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Tag: Financing

  • Maruti Suzuki hits the gas on financing with SMFG India Credit tieup

    Maruti Suzuki hits the gas on financing with SMFG India Credit tieup

    MUMBAI: Maruti Suzuki India Ltd (MSIL) has inked a new deal that could supercharge its light commercial vehicle sales. The company has signed a memorandum of understanding (MoU) with SMFG India Credit (SMICC) to provide tailored auto retail finance options for buyers of its Super Carry and Eeco Cargo models.

    This new alliance is designed to give a leg-up to fleet owners and small businesses by offering flexible, tech-savvy financing solutions. With SMICC’s reach and Maruti’s dealer network firing on all cylinders, customers can now expect an end-to-end credit experience that’s fast, fuss-free and fully digital.

    Present at the signing were MSIL senior executive officers for marketing and sales, Partho Banerjee and Nobutaka Suzuki, along with vice-president Vishal Sharma. SMICC was represented by chief operating officer Swaminathan Subramanian, chief business officer Ajay Pareek, and Takamitsu Kajii, head of planning and alignment.

    “At Maruti Suzuki, customer delight remains to be our top priority. Our partnership with SMFG India Credit adds to our continuous efforts in aiding customers with easy, flexible, and personalised financing options for Super Carry and Eeco Cargo. The Super Carry has a special place in the hearts of fleet owners and drivers with its exceptional load carrying capacity & power, while the Eeco Cargo’s versatile combination of comfort and utility makes it a preferred choice. By leveraging SMFG India’s robust and wide network, customers can expect seamless, tech-driven, end-to-end financing experiences,” said Partho Banerjee. 

    Ajay Pareek added, “We are excited to offer top-class credit solutions to Maruti Suzuki customers as one of their retail vehicle financing partners. This collaboration aligns with our aim of becoming the preferred lending partner of choice for millions of Indians. Our tailor-made product offerings extend beyond auto retail financing and we are well poised to empower every Indian to achieve financial freedom, through easy and accessible loans. Keeping this as one of the cornerstones for progress, we are focused on partnering with top OEMs across key sectors. We are thrilled to ink this partnership with Maruti Suzuki and look forward to jointly serving their customers across the country.”

    With the commercial vehicle market picking up pace, this move could help Maruti Suzuki stay ahead of the curve and load up on volumes—one financed vehicle at a time.

  • CASHe unveils its Super App; repositions itself as ‘Bharat Ka Money App’

    CASHe unveils its Super App; repositions itself as ‘Bharat Ka Money App’

    Mumbai: CASHe, a credit-led AI-driven financial wellness platform, has unveiled its super app with the tagline – ‘Bharat Ka Money App.’ Strategic repositioning underscores the brand’s aspirations to establish itself as a premier credit-centric financial platform, meeting the diverse financial needs of young working millennials in urban hubs and tier 2+ cities across Bharat. The new tagline captures the company’s steadfast focus on providing comprehensive financial solutions, seamlessly integrating credit, investment, and insurance-all customised to conveniently address the diverse financial needs of users on one unified platform.

    Simultaneously, CASHe has launched a revamped website (www.cashe.co.in) along with the launch of its mobile application, designed to expand its financial offerings to a broader audience and reinforce its national presence. The updated website visually embodies CASHe’s focus on innovation, further enriching the user experience. The refreshed mobile application, which was in beta mode for four months, is now accessible to all users and provides a distinctive experience for digitally savvy customers seeking a superlative digital encounter. CASHe’s super app encompasses various features in its credit suite, including personal loans, short and medium-term credit lines, TNPL (Travel Now, Pay Later), QR-led payments at merchant establishments, and educational loans. The Investment suite, powered by its wealth and InsureTech platform, Sqrrl, gives users access to a digitally enabled, mobile-first, bite-sized investment and insurance platform, enabling them to commence their investment journey with as little as Rs 100. The newly refreshed app aims to usher in a revolutionary new way to make finance easier, safer, and more engaging than traditional fintech apps.

    The strategic repositioning of the brand, coupled with the unveiling of the new website and app, comes in the wake of CASHe’s significant milestone of exceeding Rs 9,500 cr. in disbursements and achieving 50 million app downloads, fostering a monthly active user base surpassing 3.5 million. The company’s growth trajectory, combined with providing a range of financial solutions and the expanding reach of its user base across the country, had propelled this decisive move to position the platform as a symbol of its success and strengthen its commitment to staying at the forefront of global fintech innovation.

    CASHe CEO Yashoraj Tyagi said, “We are pleased to announce the launch of our new tagline, ‘Bharat Ka Money App,’ as a pivotal milestone in the evolution of CASHe. This strategic repositioning underscores our unwavering commitment to serving as a premier credit-centric financial platform for the young working millennials in urban hubs and tier 2+ cities throughout Bharat. The launch of our revamped website and mobile application signifies our focus on redefining the financial services landscape, providing a comprehensive and tailored financial solution to meet the diverse needs of our users. CASHe is not merely an application; it represents our commitment to delivering accessible, innovative, and empowering financial solutions to all.”

    Significantly, 75 per cent of CASHe’s user base originates from tier 2, tier 3, and small towns across India. The company has expanded its presence nationwide, covering over 18,000 pin codes. Furthermore, CASHe’s mission to provide financial inclusion extends to attracting new-to-credit customers and integrating them into the formal credit system, fostering greater accessibility and opportunities for previously underserved individuals, thereby enabling Bharat’s digital citizens to fulfil their financial aspirations.

     

  • Spotify valued at $4 billion

    Spotify valued at $4 billion

    MUMBAI: Spotify, the music streaming giant, could well be the latest startup to join the $4 billion valuation club.

    The company has reportedly secured $250 million in new financing, valuing it at more than $4 billion, according to The Wall Street Journal. Spotify previously raised $100 million almost exactly a year ago at a $3 billion valuation.

    An earlier report had suggested that Spotify was looking to raise a new round of funding at a more than $5 billion valuation, but clearly that was too bullish.

    While Spotify’s popularity and revenue has grown in recent years, it continues to lose money. Spotify reportedly doubled its revenues year-over-year in 2012 to nearly $600 million, but its net loss increased to $77 million. The extra funds may provide Spotify with more space to continue its rapid expansion even as it continues to bleed money.

    The $4 billion valuation mark seems to be the benchmark for tech startups right now. Pinterest was recently valued at just shy of $4 billion, Snapchat has reportedly turned down acquisition offers of up to $4 billion and Uber is closing in on that milestone as well.