Bangalore-based CheQ Raises USD 10 million In Its Seed Round Led by Venture Highway and 3one4 Capital


Business-to-consumer (B2C) credit management platform CheQ has raised $10 million in its seed round, led by Venture Highway and 3one4 Capital. Multiply Ventures, Marshot Ventures and Veda VC also participated in the funding round.

CheQ expects to use the funds raised to primarily build its team, launch its product, and invest in technologies. It said it will launch the product in the market “over the next few months”.

Founded by Aditya Soni, the Bengaluru-based company is building a credit management platform with the aim of simplifying the discovery and management of credit products. The firm is also backed by PaisaBazaar CEO Naveen Kukreja and Dotpe CEO, Shailaz Nag.

“Indian credit ecosystem has seen massive growth and adoption from customers over the last few years, led by the tailwinds of buy-now-pay-later, the proliferation of new-age card products and no EMI products. However, today customer awareness around the number of credit products associated with them (knowingly or unknowingly) or management of all such credit products is limited and scattered,” said Aditya Soni, founder, chief executive officer, CheQ.

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“We are developing a customer-first platform which focuses on improving the credit health of customers by making it easier for them to track, manage and make all their credit payments in one platform,” Soni said.

CheQ has a team of 30 people across functions and aims to be a 100-member organisation by the end of the year.

“With the rise of BNPL and credit penetration in India, end-users have limited awareness of the various financial products that they are signing up for,” said Nitya Agarwal, vice president at 3one4 Capital.

“Minutes into our conversation with Aditya, I was checking my Credit Score details only to see a Rs 2,000 loan amount, the origin of which I had no clue. A single source of truth for all our credit, what it means for us as customers, and the most intuitive way to manage repayments at one go is a problem waiting to be solved,” said Priya Mohan, Partner at Venture Highway.

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