CheQ, a credit card bill payment management platform, has secured Rs 18.5 crore (approximately $2.2 million) in additional proceeds in its extended seed round. This is the second tranche of the round for the Bengaluru-based company.
The company will allocate these funds for general corporate purposes, marketing, expansion, and growth, as determined by the board.
Read also – QpiAI Raises $6.5 Mn Pre-Series A Funding Round
The CheQ board has approved a resolution to distribute 6,855 Seed 1 CCPS at an issue price of Rs 26,988.91 each in order to raise Rs 18.50 crore.
Zenaida Dizon Balajadia and Lloyd Dizon each contributed Rs 4.16 crore, while Sherpalo LLC (a venture-backed by Ram Shriram), Hitesh Gupta, and Amit Lakhotia contributed Rs 8.32 crore, 10 lakhs, and 25 lakhs, respectively.
CheQ simplifies the discovery and administration of all credit products, enabling customers to pay their credit card bill and EMI on a single platform.
Venture Highway and 3one4 Capital led the $10 million venture round in June 2022, which the startup has raised to date, totaling over $17 million.
About CheQ
Founded in 2022 by Aditya Soni, CheQ is a Bengaluru-based fintech startup, the newest & noisiest on the block. We aim to help customers understand, manage and leverage credit in ways that augment their lifestyle choices.
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