Funding Alert: India’s Fintech Startup ‘Cashcow’ Raises Funding From Astarc Ventures


Mumbai-based fintech company Cashcow raised an undisclosed amount in a seed funding round from Astrac Ventures, Valpro, and other investors.

(L-R) Manish Aggarwal, Sarfraz Nawaz, Gaurav Goyal, Mustafa Patanwala

Cashcow is launched in 2017 by Gaurav Goyal, Manish Aggarwal, Mustafa Patanwala, and Sarfraz Nawaz. The company provides a wide range of financial products such as mortgage loans, home loans, credit cards, and personal loans to consumers at their doorsteps and assists with a tech portal to existing and upcoming direct selling agents’ networks.

The ISME, sourced by the family office of Yes Bank chief’s daughters- the Three Sisters: Institutional Office, Valpro Capital- a Japanese fund, and a few HNIs also took part in this funding round.

The fintech startup plans to use the capital to raise distribution and enhance its technology capabilities to produce a greater scale.

Astarc Ventures, one of the investors to Cashcow says that India is a credit-starved economy and a fintech startup like Cashcow facilitates consumers to improve the penetration of financial products. The uberised model of the company helps increase its competency and provides a lot to people with an opportunity to earn.

Cashcow rolled out a mobile application for the micro-entrepreneurs like LIC agents, chartered accountants, etc. where there is no scope of the transparent method of sharing leads with financial institutions on the basis of loans and other banking products and eventually ending up in losing consumers and clients. With the help of this app, micro-entrepreneurs can track their progress with complete transparency.

With operations in 40+ cities and collaborating with 60+ financial institutions which include banks, NBFCs, HDFC, ICICI,etc., and with a team of 40, Cashcow brings lenders to the doorsteps of consumers and handholds him/her in the entire loan journey.

Technology Sourced

On the technological front, Cashcow uses AI and Machine learning and the allocation of engines on the lead platform. The entire portal is currently on cloud-based and uses Amazon Web Services. The modules are developed with an ‘Agile model’ of the SDLC.

Cashcow locks horn with fintech players such as BankBazaar, PolicyBazaar, and PaisaBazaar. With this unique model, the company is able to reach a 40% success rate on the leads and working on bringing more conversions. The company claims to be an operationally profitable and has INR 3 Cr as monthly revenue. So far, loans worth $71.02 Mn (INR 500 Cr) & 75K+ credit cards have been disbursed.


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