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Usha Financial Services, trading under the name Cash Suvidha, has witnessed a four-fold growth in revenue for the financial year 2017-18. In Q4, the company has reported revenue of Rs 4.95 crore against Rs 1.26 crore a year earlier.
The fintech has disbursed loans worth Rs 122 crore to 37,000 borrowers in the financial year 2017-18 and aims to disburse loans worth Rs 400 crore to over 50,000 borrowers in the current financial year, according to company officials.
Commenting on the financial performance, Rajesh Gupta, Founder, Cash Suvidha, said: “We are glad to announce that at a time when players in the market are working on a burning model, Cash Suvidha has remained profitable since the first fiscal and in a span of just one year, the company has grown four times.”
Assets under Management (AUM) of the lending platform stood at Rs 60.30 crore as on 31st March 2018. Of this, SME lending stood at Rs. 46.97 crore and personal loans at Rs. 13.33 crore. The average ticket size of loan ranges from Rs 20,000-5,00,000.
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