Fintech firm SalarySe raises $11.3M in Series A round
The newly-raised capital will be used to scale the firm’s payments, credit, and money management features and make it affordable, personalised, and seamless for its users.
Salary-powered fintech platform SalarySe on Thursday raised $11.3 million in a Series A round led by Flourish Ventures with Susquehanna Asia VC and returning investors Peak XV's Surge and Pravega Ventures.
The company said it intends to use the newly-raised capital to help scale features such as making payments, credit, and money management on its platform to make it affordable, personalised, convenient. and seamless to its users.
“Salaried employees are the backbone of India’s economy, yet they often face limited access to transparent and curated financial solutions. With this round we are doubling down on our vision to reimagine salary-linked financial products that put employees in control of their finances and their future. This funding will further propel SalarySe in its endeavour to evolve as the go-to financial partner for every salaried individual in India,” said Piyush Bagaria, Co-founder at SalarySe.
The company aims to reach over 1,000 corporates and onboard over 20 million employees onto its platform in the next three years.
SalarySe’s solution leverages technology and an employer-linked model to bring multiple personalised products for its users along with AI-enabled employee wellness offerings that aims to reduce financial stress for employees.
The company, which was founded in 2023, previously raised an undisclosed Seed round in October last year. Prior to that, the company raised $5.26 million from Pravega Ventures and Peak XV’s Surge programme.
According to data from Tracxn, the firm reported a revenue of Rs 95.5 lakh and a loss of Rs 4.3 crore.
Edited by Megha Reddy