October 18th, 2024, New Delhi: Admitad, one of the leaders in the partner industry with a significant share of the affiliate market in India, has announced the integration of Cashli within its structure. This fintech startup names India its focus market and already has over 1 lakh unique local partners earning on selling products of banks and other financial institutions: credit cards, loans, insurance and other in-demand services. Admitad plans to invest $5 million in the development of a new stand-alone business department.
The integration of Cashli into Admitad will allow the company to nurture and polish a niche product that will be focused on the needs and goals of financial and insurance companies. It will also open up new segments of publishers – insurance agents, call centers and regular affiliates working with this segment of advertisers. Admitad India, in turn, will stop working with these advertiser segments and will bring all of them under the wing of the Cashli team. Admitad expects that this will improve the level of service and increase the effectiveness of affiliate programs for both current and future financial market advertisers.
The loan and insurance markets in India are growing steadily by 25% every year and are among the most reliable and promising areas for earning money. At the same time, India’s unemployment rate reached 9.2% in June 2024. Young people and residents of rural areas face the most difficulties while searching for a job. These categories of the population have fewer attractive vacancies available, and salaries are generally low.
Cashli saw in these challenges an opportunity for ordinary people in India. Every year, thousands of partners earn money on selling credit cards, loans, and health and vehicle insurance through various sales channels. But not all of them get paid on time, and some unscrupulous programs may not pay out rewards at all. Cashli aims to be a trusted partner for both newcomers looking to become direct sales agents and increase their income, as well as experienced partners who are not getting the satisfying level of service in their current affiliate programs.
An applicant doesn’t have to be a professional or an expert in finance in order to become a partner. Anyone can start working with Cashley – from a chartered accountant or a bank employee, to a person with no special education or experience in the industry. The necessary basic training will be provided by the startup.
The startup collaborates with major brands such as TATA Capital, ICICI bank, Aditya Birla Capital, Care Health Insurance, Acko, Reliance General Insurance, Niva Bupa Insurance, AXIS BANK, BAJAJ FINANCE LTD, FLEXI LOANS and dozens of others. Cashli partners promote the products of these organizations and get rewarded for successful actions – for example, for every insurance or bank card issued. An ordinary Indian can start a small business and earn up to 45 lakhs rupees monthly in this way.
The Cashli platform is focused on supporting not only offline partners, but also affiliates. It provides profitable strategies for YouTube channel owners, Telegram content creators, content sites, services and other types of affiliates. It allows them to significantly expand their monetization opportunities.
Neha Kulwal, Managing Director, APAC & India at Mitgo (owns Admitad) and newly appointed Head of Cashli, notes: “Our strategy is not only aimed at helping partners make money from selling financial products, but also at creating tools for additional monetization for both NBFCs and services with an already established audience. We aim for each service to be able to integrate tools to sell insurance, credit cards or loans to significantly increase their revenues.”
Partners can sell products either “manually” in direct contact with customers, or through an app, web service or implementation of such a feature via API. Quick withdrawals of earned rewards are available to them in a time frame of one business day or less. Cashli’s integration with Admitad also involves integration with Mitgo ID for customer registration and authorization. This will make it as quick and easy as possible for brands and publishers to transition to the new platform.
Apart from additional earning opportunities for Indians, such products also help address the high proportion of underbanked and unbanked audiences in the country’s population. The startup partners increase the overall financial literacy of Indians and help improve the accessibility of financial products even in the remotest regions of India. This approach will enable financial organizations to tap into a pool of clients that was previously inaccessible.