About CheQ
CheQ is a company based in Bengaluru (India) founded in 2021 by Vished Banger and Aditya Soni.. CheQ has raised $17.79 million across 4 funding rounds from investors including 3one4 Capital, Venture Highway VC and Multiply Ventures. The company has 57 employees as of April 04, 2024. CheQ offers products and services including CheQ App and Credit Report Service. CheQ operates in a competitive market with competitors including CRED, Wizi, Paymadi and UdharPay, among others.
- Headquarter Bengaluru, India
- Employees 57 as on 04 Apr, 2024
- Founders Vished Banger, Aditya Soni
- Stage Minicorn
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Cheq Digital Private Limited
- Date of Incorporation 24 Dec, 2021
- Jurisdiction Gurgaon, Haryana, India
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Annual Revenue
$253.99 K (USD)17035383.87as on Mar 31, 2023
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Net Profit
$-2.34 M (USD)-11126.83as on Mar 31, 2023
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EBITDA
$-2.46 M (USD)-19274.9as on Mar 31, 2023
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Total Equity Funding
$17.79 M (USD)
in 4 rounds
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Latest Funding Round
$2.21 M (USD), Seed
Jun 18, 2024
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Investors
3one4 Capital
& 29 more
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Employee Count
57
as on Apr 04, 2024
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Products & Services of CheQ
CheQ offers a comprehensive portfolio of products and services, including CheQ App and Credit Report Service. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
App for paying credit card bills and earning redeemable rewards.
Provides free detailed reports on credit standing and insights.
Unlock access to complete
Funding Insights of CheQ
CheQ has successfully raised a total of $17.79M across 4 strategic funding rounds. The most recent funding activity was a Seed round of $2.21 million completed in June 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Seed — $2.2M
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First Round
First Round
(12 Mar 2022)
- Investors Count 30
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2024 | Amount | Seed - CheQ | Valuation | Sherpalo Ventures | |
| Jan, 2024 | Amount | Seed - CheQ | Valuation | 3one4 Capital | |
| Aug, 2023 | Amount | Seed - CheQ | Valuation | Y Combinator |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in CheQ
CheQ has secured backing from 30 investors, including angel, venture fund, and institutional investors. Prominent investors backing the company include 3one4 Capital, Venture Highway VC and Multiply Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Early-stage investment in technology sectors is conducted by Sherpalo Ventures.
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Founded Year | Domain | Location | |
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Early-stage investments are made in fintech, retail, and healthtech sectors.
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Founded Year | Domain | Location | |
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Venture capital investments in technology sectors like SaaS and Fintech in India.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by CheQ
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - CheQ
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Cheq Comparisons
Competitors of CheQ
CheQ operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as CRED, Wizi, Paymadi and UdharPay, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
CRED is operated as a members-only financial rewards club.
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| domain | founded_year | HQ Location |
App-based platform for credit card bill payments
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| domain | founded_year | HQ Location |
Digital payments platform enabling users to make seamless transactions with credit cards.
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| domain | founded_year | HQ Location |
Automates collection of credit, fees, and EMI from customers' bank accounts.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Cheq
Frequently Asked Questions about CheQ
When was CheQ founded?
CheQ was founded in 2021 and raised its 1st funding round 1 year after it was founded.
Where is CheQ located?
CheQ is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Who is the current CEO of CheQ?
Aditya Soni is the current CEO of CheQ. They have also founded this company.
Is CheQ a funded company?
CheQ is a funded company, having raised a total of $17.79M across 4 funding rounds to date. The company's 1st funding round was a Seed of $500K, raised on Mar 12, 2022.
How many employees does CheQ have?
As of Apr 04, 2024, the latest employee count at CheQ is 57.
What is the annual revenue of CheQ?
Annual revenue of CheQ is $253.99K as on Mar 31, 2023.
What does CheQ do?
CheQ was founded in 2021 in Bengaluru, India, operating in the fintech sector. A consolidated system for paying multiple credit card bills is offered, along with a rewards program that includes cashback or vouchers. Access to credit reports is provided, and automated reminders are sent to avoid missed payments. User data is protected through encryption measures.
What products or services does CheQ offer?
CheQ offers CheQ App and Credit Report Service.
Who are CheQ's investors?
CheQ has 30 investors. Key investors include 3one4 Capital, Venture Highway VC, Multiply Ventures, Mars Shot Ventures, and Zenaida Dizon Balajadia.
What is CheQ's valuation?
The valuation of CheQ is $55.98M as of Jun 2024.
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