Cashalo Reaches Over 3 Million Active App Users in Just 1 Year - TeknoGadyet
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Tuesday, July 9, 2019

Cashalo Reaches Over 3 Million Active App Users in Just 1 Year

Cashalo celebrates its 1st anniversary with a new milestone, as it was able to unlock financial potential for millions of Filipinos.

Cashalo Reaches Over 3 Million Active App Users in Just 1 Year
Cashalo Reaches Over 3 Million Active App Users in Just 1 Year

Launched in May 2018, the company is committed to improve the lives of unbanked and underserved Filipino consumers and businesses by providing tools that can help develop their financial well-being. This goal is backed by the brand's principles of inclusion, responsibility, and transparency.

In just a year, the fintech firm was able to assist 1.3 million Filipinos in building a financial identity, while its app now has over 3 million users. As a quick recap, the Cashalo app comes with offline and online components, allowing users to apply for digital credit and cash loans, and receive a confirmation within minutes.

Moving on, its flagship service Cashacart remains the country’s first and only true offline-to-online basket financing solution. It enables users to shop for a basket of goods across the company’s network of over 300 merchant partner locations. Then, they can pay later via digital credit.

“At Cashalo, we believe in creating value for our consumers and merchant partners. While other companies focus on financing products, we use technology to finance people and help them build a strong credit profile,” General Manager Hamilton Angluben explained. “Our focus in on designing solutions that improve lives and contribute to socio-economic growth.”

See Also: Cashalo Intros 'Pre-approval' Feature

Cashalo’s proprietary technology uses artificial intelligence, machine learning, and anti-fradud algorithms to analyze a mix of traditional and non-traditional data. This will help the company to remove biases and create a level playing field for every Filipino, who have been ignored by traditional financial institutions.

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