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Tag: EarlySalary

FinTech Start-up EarlySalary Raises Rs. 100 Crores
4Jan By AnkitaNo Comments
FUNDING

FinTech Start-up EarlySalary Raises Rs. 100 Crores

EarlySalary, India’s first FinTech startup to offer Salary Advances and Instant Cash Loans, has announced its Series B funding of Rs. 100 Crores led by Eight Roads Ventures India. Existing investors IDG Ventures India, Dewan Housing Finance Corp. Ltd. (DHFL) and seed investor Mr. Ashok Agarwal also participated in the round. The company will be deploying these funds to accelerate its growth plans and target 100,000 loan disbursements per month by the end of 2018. The venture has disrupted the way young Indians are borrowing, replacing borrowing from friends, family and employers with borrowing real-time through a Mobile App from the comfort and convenience of their homes, and seeing money credited to their bank accounts instantly. The company has, for the first time, provided access to ...
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FinTech Startup EarlySalary Raises USD 4 Million From IDG Ventures India & Others
10May By AdityaNo Comments
FUNDING

FinTech Startup EarlySalary Raises USD 4 Million From IDG Ventures India & Others

EarlySalary India’s first FinTech startup to offer Salary Advances and Instant Cash Loans has announced its Series A funding of $4 Million from IDG Ventures India (IDGVI) and Dewan Housing Finance Corp Ltd (DHFL). The company focuses on helping young working professionals get Instant Loans and Salary Advances in minutes and is fast becoming the first line of credit to young working Indians. More than 80% of its customer base is in their first career roles and most of them are new to credit and are first time borrowers. Over the past year, EarlySalary developed its Underwriting System which is a self-learning Algo Based Decisioning System. The System in real time reviews Social Media and Credit Bureau data of customers and helps approve the loan for them. Targeted at young working pro...
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