[Funding alert] Credit management platform CheQ raises $10 mn in seed funding

CheQ, a Business-to-consumer (B2C) credit management platform has raised $10 million in its seed funding round from Venture Highway and 3one4 Capital.

The round also saw participation from Multiply Ventures, Marshot Ventures and Veda VC.

The company plans to use the funds to build its own team, launch new products, and invest in new technologies.

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The Bengaluru-based CheQ was founded in January 2022 by Aditya Soni, It helps the customers in easy discovery and management of all credit products like cards, Buy-Now-Pay-Later (BNPL) and others.

“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,” said, Aditya Soni, founder, CheQ.

The company said in a statement that CheQ will launch its product in the next few months.

“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.

The company is backed by several angel investors, such as Paisabazaar chief executive Naveen Kukreja, and Dotpay founder Shailaz Nag, among others.

It has a team of 30 people in various functions and aims to become a 100 member organization by the end of the year.

About CheQ

CheQ is B2C credit management company where it tracks, manage and pay credit bills.

Founder – Aditya Soni

Captain of the ship, Aditya comes with over 16 years of experience in scaling and building multiple businesses in the fintech and e-commerce space. He spent 8 years in Citibank across various leadership roles in the credit card business before moving to Flipkart where he led the payments and fintech business and brought industry-first constructs such as Flipkart Pay Later, FK Co-branded Card, and Debit Card EMI. He also led the Smartphones category for 2.5 years.