India based earned wage access startup raised $16m in Series A funding led by RTP Global.
“An employee should have the option to access their own earnings at any time,” he told TechCrunch in an interview. “When faced with a mid-month liquidity crunch, the apparent options for employees to access quick cash include payday loans or micro-credit schemes. However, these instruments often carry predatory pricing, which further exacerbates employees’ debt obligations and mental wellness,” the startup said.