The startup offers a financial application that provides short-term loans secured by valuables, enabling customers to access quick cash through digital payments and home pick-up services. This solution addresses the need for immediate liquidity by allowing users to convert their assets into cash without the hassle of traditional lending processes.
Funding
$8.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Individuals often face unexpected financial needs but lack immediate access to traditional loans due to lengthy approval processes or credit score requirements. Selling valuable possessions outright may not be desirable, especially if the need for funds is temporary.
Solution
CASHY provides short-term loans secured by personal valuables, offering a quick and convenient alternative to traditional lending. Customers can leverage their assets, such as jewelry, electronics, luxury goods, and even vehicles, to obtain immediate cash. The process involves appraising the item's value and providing a loan based on that assessment, with the item serving as collateral. CASHY offers transparent terms, avoids credit checks, and allows customers to retrieve their items upon repayment of the loan within the agreed timeframe. If the customer cannot repay the loan, CASHY sells the item to recover the funds, with any surplus returned to the customer.
Target Audience
CASHY primarily targets individuals who need immediate access to funds and are willing to use their valuables as collateral for a short-term loan, as well as those looking to sell luxury items.
Features
- Online appraisal tool for estimating the value of various items, including cars, mobile phones, MacBooks, gold jewelry, tablets, game consoles, luxury watches, designer bags, gold coins and bars, smartwatches, laptops, iMacs, cameras, e-bikes and tools.
- Loan disbursement via digital payment methods.
- Option for home pick-up of pledged items.
- Secure storage of valuables during the loan term.
- Transparent fee structure with no hidden charges.
- Option to extend the loan term.