EarlySalary Raises Raises $110M in Series D Funding

EarlySalaryFunding in Series D of $110M was raised by, a Pune-based consumer loan fintech company.

The round, which included a secondary sale, was led by TPG’s The Rise Fund, Norwest Venture Partners, with participation from Piramal Capital & Housing Finance Limited.

The company plans to use these funds to expand its business over the next 24 months, increase its BNPL segment, build a network of partners in the healthcare and edtech sectors, and grow its BNPL segments.

EarlySalary.com, led by Ashish Goyal, CFO, and Akshay Mehrotra (CEO), is a consumer lending platform that focuses on Indian young people who are tech-savvy and aspirational. It is developing a financial ecosystem to help the mid-income segment achieve their dreams. The company has created a variety of financial products, including Cash Loans, Personal Loans for long-term, and Buy Now Pay Later plans. It also offers a digital application process for loans that is quick and easy.

The company’s presence has grown from 18 to 150 cities to include over a million customers. It has disbursed almost 2.8 million loans of Rs. 7,500 crores.

EarlySalary had raised $34 million in previous rounds from Eight Roads, Chiratae Ventures, Piramal Capital & Housing Finance Limited and angel investors.

FinSMEs

30/08/2022

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