Fintech firm CheQ raises $10 million in seed round

Haripriya Sureban | | Updated on: Jun 30, 2022

The funds raised will be used for building a team, the product launch, and investing in technologies

CheQ Digital Pvt Ltd, a pre-product fintech firm, has raised $10 million in a seed round led by  Venture Highway and 3one4 Capital. Multiply Ventures, Marshot Ventures and Veda VC also participated in the round.

The funds raised will be primarily used for building the team and launching the product, besides investing in technologies. CheQ will launch the product over the next few months, said the company. 

The start-up is also backed by other marquee investors, including Naveen Kukreja (CEO - PaisaBazar) and Shailaz Nag (Founder & CEO - Dotpe), among other angel investors.

Aditya Soni, Founder and Chief Executive Officer (CEO), CheQ, said customer awareness around the number of credit products associated with them or management of all such credit products is limited and scattered. 

“We are developing a customer first platform that focuses on improving the credit health of customers by making it easier for customers to track, manage and and pay all their credit payments in one platform,” he added. 

CheQ aims to simplify the discovery and management of credit products and gives customers a 360-degree view, thus encouraging them to exhibit prudent behaviour and make sound decisions on their credit products. 

“We’re excited to work with CheQ as they build a robust unified repayment platform to empower users to manage their credit in a disciplined manner,” said Nitya Agarwal, Vice-President at 3one4 Capital. 

The start-up was founded in January 2022 by Aditya Soni in Bengaluru. It intends to build a credit management platform with the aim of simplifying the discovery and management of credit products. Within a span of six months, CheQ has set up a team of 30 people across different functions and aims to be a 100-member organisation by the end of the year.

Published on June 30, 2022
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