Earned wage access platform Refyne raises $82 mn in Series B funding round

A study reported that 81 per cent of employees face a liquidity crunch between pay cycles. Refyne aims to address that problem.

Peerzada Abrar Bengaluru
Chitresh Sharma and Apoorv Kumar, founders of Refyne

Chitresh Sharma and Apoorv Kumar, founders of Refyne

Refyne, India’s first and largest Earned Wage Access (EWA) platform, has announced the closing of its $ 82 million Series B round led by Tiger Global. A significant contribution came in from existing international investors - QED Investors, partners of DST Global, Jigsaw VC, XYZ Capital, and RTP Global - and new investor Digital Horizon participating in the round.
Refyne, founded by Chitresh Sharma and Apoorv Kumar, has quickly become India’s premier EWA platform that partners with employers to enable their employees to access a portion of their accrued but unpaid salary any time before payday. Within just 10 months of being operational, Refyne has raised a total of $106 million. The company has pioneered EWA for the Indian workforce, establishing a stronghold as the leader for on-demand pay in the market. In less than a year, Refyne’s transacting user base has grown 68x and the platform recorded 165x increase in the number of transactions ove

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First Published: Jan 12 2022 | 1:06 PM IST

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