Fintech startup CheQ raises $10M in seed round

Bengaluru-based fintech startup CheQ Digital said on Wednesday it has raised $10 million in a seed round led by Venture Highway and 3one4 Capital. The round also saw participation from Multiply Ventures, Marshot Ventures, and Veda VC.

CheQ expects to use the funds raised to primarily build its team, launch its product, and invest in technologies. It said it will launch the product in the market "over the next few months".

"We are developing a customer-first platform, which focuses on improving the credit health of customers by making it easier for customers to track, manage, and pay all their credit payments in one platform,” said Aditya Soni, Founder and CEO of CheQ.

Founded in January 2022, CheQ is a digital platform that aims to help people discover and manage their credit products online. The startup is currently operating in stealth mode and is in the pre-product stage.

"Minutes into our conversation with Aditya, I was checking my Credit Score details only to see a Rs 2,000 loan amount, the origin of which I had no clue. A single source of truth for all our credit, what it means for us as customers, and the most intuitive way to manage repayments at one go is a problem waiting to be solved," said Priya Mohan, Partner at Venture Highway.

CheQ's primary objective is to help customers improve their credit health by making it easier to track, manage and pay all their credit payments-BNPL and credit cards-on a singular platform.

Naveen Kukreja, CEO of PaisaBazaar; and Shailaz Nag, CEO and Founder of DotPe, are also investors in the startup.