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CheQ Raises $4.5M in Extended Seed Round for B2C Credit Management Platform

CheQ, a Bengaluru-based credit management platform, secures Rs 35 crore ($4.5 million) in extended seed funding round led by
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CheQ, based in Bengaluru, has recently secured Rs 35 crore (approximately $4.5 million) in an extended seed funding round, as reported by Entrackr.

CheQ Raises $4.5M in Extended Seed Round for B2C Credit Management Platform

Leading the funding round were 3one4 Capital, Venture Highway Fund, and Multiply Ventures, contributing Rs 12.49 crore, Rs 6.24 crore, and Rs 2.08 crore, respectively. Individual investors like Lloyd Dizon Balajadia, Madhav Prakash Sehth, Vishal Gupta, and Deepak Tuli collectively invested Rs 14.2 crore.

Founded by Aditya Soni in 2022, CheQ provides a user-friendly platform for managing various credit products, paying credit card bills, and handling EMIs efficiently.

The injected capital will fuel growth, expansion, marketing, and operational needs, according to the company's board.

Despite being in the pre-revenue stage, CheQ reported a modest revenue of Rs 2 crore for the fiscal year ending March 2023. However, it also recorded losses of Rs 19.4 crore during this period.

Despite competition from fintech giant CRED, valued at $6.4 billion with nearly $1 billion in funding, CheQ's strategic positioning suggests promising potential in the market.

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