[Funding alert] Fintech startup Chqbook raises Rs 40 Cr in pre-Series B round

Gurugram and Bengaluru-put together fintech startup Chqbook with respect to Thursday said it has brought Rs 40 crore up in a pre-Series B venture round drove by existing financial backers Aavishkaar Capital and the Rajiv Dadlani Group, among others. 


The startup said it will utilize assets from the most recent round to increase its client obtaining and support its innovation. 


Chqbook had as of late brought Rs 7.5 crore up in adventure obligation from InnoVen Capital to satisfy customer need for its loaning business. 


"The nation over, throughout the following ten years, we anticipate that small businesses should develop dramatically. Likewise, the reception of 5G administrations will extend the extent of administrations clients can get to," said Vipul Sharma, Co-author and CEO of Chqbook in a press proclamation. 


The pre-Series B subsidizing round additionally saw support from Earlsfield Capital UK, family workplaces, and HNI financial backers like Jeremy Lim, Bhupesh Kumar, and Nilesh Srivastava, among

others. 


Chqbook's application has gotten over 1,000,000 downloads since it dispatched, and has over 6.5 lakh executing clients. It measures over Rs 300 crore of the annualized exchange esteem. 


Established in 2017 by Vipul, Rajat Kumar, Sachin Arora, and Mohit Goel, Chqbook.com is a neobank for entrepreneurs that offers different monetary administrations to private ventures, including banking, khata, loaning, protection, and prizes. 


The neobanking startup's USP is its across the board "monetary control place" that brings every one of the items and administrations a business may require – day by day, month to month, or yearly — together on a solitary stage. 


"Given (the organizers') vision and solid execution, likewise neobanking being at an incipient stage in India, with immense development potential, we are happy to share as long haul financial backers," said Rajiv Dadlani from the family office of the Rajiv Dadlani Group. 


"There is a huge chance in giving monetary items and administrations to independent companies in India and Southeast Asia, which has generally been overlooked by existing loaning establishments/banks because of absence of foundation and inaccessibility of financial record, among different elements. We are eager to band together with and support the group at Chqbook through their growth...," said Aakash Agrawal at Earlsfield Capital. 


In March last year, Chqbook had brought Rs 35 crore up in institutional subsidizing from Aavishkar Capital.


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