WHO WE ARE
The idea behind Cashere sprung out of frustration from having to pay extortionate fees for immediate purchase of foreign currency at money exchange establishments and face challenges in obtaining cash at travel destinations.
Co-founder Ramesh Indran, who travels frequently for both leisure and business, found himself being charged a margin of more than 22% over the mid-market rate by Travelex at London Heathrow for purchasing Rupees on the spot while travelling to Kochi. Kochi, like many cities, has a limited number of ATMs for cash withdrawals and alongside this constraint, international debit cards aren’t always guaranteed to work – they would either be blocked by local issuing banks as automatic fraud protection or they simply wouldn’t be accepted.
Cashere was created to be a pioneering digital alternative to existing currency exchange business, that offers, in partnership with local businesses, the most convenient and inexpensive solution for foreign visitors to obtain local currencies.