The money raised will go toward hiring personnel, launching the product, and making technological investments.
CheQ Digital Pvt Ltd, a pre-product fintech company, has received a $10 million seed round led by Venture Highway and 3one4 Capital. The round was also attended by Multiply Ventures, Marshot Ventures, and Veda VC.
The funds raised will be used primarily to build the team and launch the product, as well as to invest in technologies. According to the company, CheQ will launch the product in the coming months.
Other notable investors in the start-up include Naveen Kukreja (CEO – PaisaBazar) and Shailaz Nag (Founder & CEO – Dotpe), among others.
According to Aditya Soni, Founder, and CEO of CheQ, customer awareness of the number of credit products associated with them, as well as management of all such credit products, is limited and dispersed.
“We are developing a customer-first platform that focuses on improving customer credit health by making it easier for customers to track, manage, and pay all of their credit payments in one platform,” he explained.
CheQ aims to simplify the discovery and management of credit products by providing customers with a 360-degree view, encouraging them to exercise caution and make sound credit product decisions.
“We’re excited to work with CheQ as they build a strong unified repayment platform that will enable users to manage their credit in a disciplined manner,” said Nitya Agarwal, Vice-President at 3one4 Capital.
Aditya Soni founded the company in Bengaluru in January 2022. It plans to build a credit management platform to make credit product discovery and management easier. CheQ has built a team of 30 people across various functions in six months and aims to be a 100-member organization by the end of the year.
