Aeries Financial Technologies Pvt. Ltd., a fintech company promoted by serial entrepreneur and private equity investor Mr. V. Raman Kumar, today announced the appointment of Mr. Ketan Patel as the Executive Director and CEO of CASHe. Mr. Patel has also been appointed as the Managing Director of Bhanix Finance & Investment Ltd., the NBFC arm of the company. In his new role as CEO, Mr. Patel will focus on the company’s next level strategies that will focus on actions centered around accelerating CASHe’s organic growth momentum as well as its strategy of becoming India’s largest digital lending company to the salaried and professional millennial. He will also be focused towards driving its technology innovation, accelerate its operational excellence as well as delivering superior customer experiences.

Speaking on the appointment, Chairman of Aeries Financial Technologies, Mr. V. Raman Kumar, said, "It is my pleasure to welcome Ketan to lead the CASHe team as CEO. I am very pleased that we have been successful in attracting a talented and experienced banker who intimately understands E-commerce and fin-tech businesses in India. Our decision to appoint Ketan is a clear reflection of the company’s avowed desire to accelerate the pace of growth by attracting India’s best of breed technologists and financial and banking professionals. Ketan is a long-time career banker at Kotak with over 18 years of outstanding experience heading key portfolios ranging from retail assets, wealth management and more recently as Business Head of E-commerce and Composite Banking Solutions (CBS) at Kotak. He is a seasoned leader with a proven track record of bringing in operational excellence, accelerating innovation and achieving revenue and profitability in business. Ketan has a broad and deep banking experience across businesses and functions and has a clear understanding of the opportunities and priorities that lie ahead of us. I am happy that we will be working closely to build a hugely successful business at CASHe,” he concluded.

Speaking about his appointment as the CEO and Executive Director of CASHe, Mr. Ketan Patel said, "I look forward to leading the team at CASHe at such an exciting time. I am encouraged by the growth and potential CASHe has to offer and I am committed to building upon the excellent groundwork which has been undertaken by Raman since the launch of CASHe. My focus will be to strengthen CASHe’s growth and operational performance and making CASHe as a true leader in alternative lending for millennial in India. I look forward to working with Raman, CASHe’s senior management team and all my colleagues as we carry on with the execution of our strategic plans."

Mr. Ketan Patel joins CASHe after an 18- year stint with Kotak Mahindra bank where he until recently held the position of a Business Head - CBS and E-commerce & Corporate Banking. In his role as Head of E-Commerce at Kotak Mahindra Bank, Mr. Ketan oversaw setting up a dedicated vertical for the fast-growing E-Commerce business out of the bank’s Corporate Banking Vertical. Throughout his successful career at Kotak and Kotak Mahindra bank, Mr. Patel led key business units including Kotak Securities, Mortgages, Kotak Wealth Management and headed its division focusing on NRI business. From 2010 until 2015, he helped setting up the Private Banking Business for the Kotak Group in the UK. Mr. Patel holds a Master’s Degree in Management Studies from Mumbai University.

Launched in 2016, CASHe is India's most preferred digital lending company for young salaried millennial. CASHe provides immediate short-term personal loans to young professionals based on their social profile, merit and earning potential using its proprietary algorithm based machine learning platform.

Exactly a year back, CASHe raised Rs.25 crore in a series A funding from investor group led by Mr. Mathew Cyriac and advised by Florintree Advisors. Cashe has raised total of Rs 50 crore till date.

Prior to this, it entered into a strategic sales partnership with Andromeda, an India’s largest financial distributor, in January 2017. It had also partnered with India’s largest mobile payments and commerce firm, Paytm to allow its users to deposit cash transfers from CASHe to their Paytm wallets [Read Here].

In April 2016, Aeries Financial Technologies Pvt. Ltd, launched its innovative technology-driven lending platform for the young, urban millennial. CASHe provides almost instantaneous loans on-demand. Its user-friendly digital interface enables faster loan application process and quicker loan disbursals. CASHe provides hassle-free loans with its app enabled documentation and loan disbursal/repayment process. Powered by its industry-first algorithm driven credit scoring platform, Social Loan Quotient (SLQ), CASHe quickly determines a user’s credit worthiness by using multiple unique data points to arrive at a distinct credit profile of the customer. CASHe is completely automated and requires no personal intervention and no physical documentation. The average time taken for a loan to be disbursed is about 8 minutes, subject to proper submission of all documents. CASHe’s target audience is young working professionals in the age group of 23-35 years. CASHe offers loans from Rs 10,000 to Rs 2,00,000 payable over 30 - 180 days. Visit www.cashe.co.in for more information.

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