SalarySe raises $11.3 Mn Series A led by Flourish Ventures The company said that the fresh capital infusion will help its aim to transform financial accessibility for India's salaried workforce, making payments, credit, and money management affordable, personalised, convenient, and seamless.
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SalarySe, a salary-powered fintech platform, has announced a fundraise of USD 11.3 million in Series A funding led by Flourish Ventures, along with participation from Susquehanna Asia VC and returning investors Peak XV's Surge and Pravega Ventures.
The company said that the fresh capital infusion will help its aim to transform financial accessibility for India's salaried workforce, making payments, credit, and money management affordable, personalised, convenient, and seamless.
The company's flagship Credit-on-UPI product for salaried employees partners with top Indian banks, HR SaaS platforms, and marquee global corporate customers.
SalarySe's solutions, launched in partnership with the Top Banks in India such as HDFC and RBL, have recorded strong traction amongst more than 100 multinational corporations, GCC and Indian corporates, including multi-billion-dollar global logos across sectors such as IT, Healthcare, BFSI, and manufacturing.
Piyush Bagaria, Co-Founder, SalarySe, said, "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."
"SalarySe is addressing a critical gap by linking financial products such as Credit on UPI directly to income, ensuring that salaried employees have access to timely, fair, and responsible credit," said Ravi Kaushik, Executive Director and Head of Asia Investments, Flourish Ventures. "We believe that the platform's approach addresses immediate cash flow needs while laying the foundation for long-term financial well-being. This alignment makes SalarySe a unique player in India's financial ecosystem."
Bhavanipratap Rana, Investment Advisor at Susquehanna Asia VC, said, "Products like credit-card-on-UPI are reshaping how consumers engage with financial products in India, in a digital-first, high-frequency manner. The opportunity to help salaried Indians improve financial management right from the source, with support from employers, is one that we believe is massive. We're excited to support SalarySe in this journey."
"Credit-on-UPI represents the next frontier in India's digital credit ecosystem. SalarySe is enabling this shift through its innovative, employer-linked model that makes credit access seamless and responsible for the salaried workforce," said a spokesperson from Pravega Ventures.
The company said that it plans to reach more than 1000 corporates with 20 million plus employees in the next three years as it scales operations, strengthens technology, and expands distribution to become the leading salary-powered fintech platform in India.
