Fintech startup Chqbook has raised undisclosed funds from Youwecan-backed Startup Buddy and consortium of HNIs. Individuals include Apurva Chamaria (Global head of corporate marketing, HCL), Sachin Arora (ex-CTO, Myntra), Bharat Gupta (Founder of Net Asset Consulting LLP), Amit Manocha (Private equity professional based out of Singapore), and others.
Kunal Singhal, Partner at Suresh Chandra and Associates, was the advisor for the transaction. As the part of the deal, Amit Singhal joins the board at Chqbook while Apurva Chamaria and Sachin Arora join as advisors to the board.
Chqbook is a marketplace for financial products – that brings suppliers (Banks & NBFC’s), distributors (Chqbook experts) and customers onto a single platform, both online and offline. Chqbook leverages that ecosystem and brings on the top 1% to service customers looking for financial services.
Both of Chqbook’s founders, Vipul Sharma and Rajat Kumar are bankers by profession, and over the years have stressed on customer service as the only way to build relationships. The company believes a magical experience is a key to grow and scale – until the point it becomes the way of life and an expectation from every customer.
On the investment, Vipul Sharma, co-founder & CEO, Chqbook, said:
Financial products are complex and diverse and our model aims to provide complete and honest advise and support to retail consumers to take the best decisions for their financial needs. Currently, we provide only home loans on our platform and will be adding personal loans and credit cards shortly.
Customers can explore loans & check their eligibility while Chqbook uses machine learning and complex algorithms to match customers to the right provider. They give over 20+ options to choose from. Once a customer has made his choice, they can quickly book a Chqbook Expert for an appointment at their doorstep without having to fill tedious forms or upload documents.
The company tracks each application from the time that the loan is applied for, till the loan is approved; and steps in the minute there are delays or problems. Each application is tracked over a 100+ parameters and Chqbook monitors every stage of the approval process, making the experience seamless and magical – each time.
On the development, Rajat Kumar, COO and co-founder, said:
What we found are hardworking, smart and ambitious professionals with years of experience each and a razor-sharp focus on building relationships and being there with the customer for the long term. This ensures they put their best foot forward always.
The company claims to be currently in operation in four major cities and has over 400 plus experts on their platform. The fund raised is expected to be deployed to expand to over 50 cities, and further into credit cards and personal loan services.