Adani Enterp. 2447.80↑13.85(0.57%)
Adani Ports 743.95↑5.15(0.70%)
Apollo Hospitals 4938.40↓-11.80(-0.24%)
Asian Paints 3222.65↑22.90(0.72%)
Axis Bank 960.20↑9.35(0.98%)
B P C L 357.25↑0.45(0.13%)
Bajaj Auto 4724.55↑14.50(0.31%)
Bajaj Finance 7074.25↑31.05(0.44%)
Bajaj Finserv 1467.00↑8.10(0.56%)
Bharti Airtel 829.25↓-5.25(-0.63%)
Britannia Inds. 4694.00↑11.40(0.24%)
Cipla 971.00↓-3.80(-0.39%)
Coal India 227.85↓-1.85(-0.81%)
Divi's Lab. 3510.45↑48.15(1.39%)
Dr Reddy's Labs 4619.35↑15.80(0.34%)
Eicher Motors 3708.40↑35.15(0.96%)
Grasim Inds 1756.15↑21.65(1.25%)
H D F C 2641.20↓-3.60(-0.14%)
HCL Technologies 1115.65↓-22.65(-1.99%)
HDFC Bank 1599.50↓-4.90(-0.31%)
HDFC Life Insur. 570.10↓-4.05(-0.71%)
Hero Motocorp 2899.00↑28.40(0.99%)
Hind. Unilever 2692.00↓-3.80(-0.14%)
Hindalco Inds. 416.20↓-3.50(-0.83%)
ICICI Bank 940.00↓-6.75(-0.71%)
IndusInd Bank 1310.35↑8.55(0.66%)
Infosys 1274.35↓-30.15(-2.31%)
ITC 442.55↑1.90(0.43%)
JSW Steel 711.85↓-0.30(-0.04%)
Kotak Mah. Bank 1946.30↑21.40(1.11%)
Larsen & Toubro 2269.55↑1.25(0.06%)
M & M 1404.45↑9.05(0.65%)
Maruti Suzuki 9734.40↑152.30(1.59%)
Nestle India 21840.40↑6.25(0.03%)
NTPC 174.90↑0.80(0.46%)
O N G C 154.00↓-1.40(-0.90%)
Power Grid Corpn 236.40↑0.80(0.34%)
Reliance Industr 2470.45↓-6.80(-0.27%)
SBI Life Insuran 1215.50↑0.10(0.01%)
St Bk of India 584.30↓-2.90(-0.49%)
Sun Pharma.Inds. 1008.50↓-0.25(-0.02%)
Tata Consumer 788.50↓-3.95(-0.50%)
Tata Motors 552.65↑6.40(1.17%)
Tata Steel 108.55↓-0.85(-0.78%)
TCS 3233.15↓-55.75(-1.70%)
Tech Mahindra 1072.40↓-36.95(-3.33%)
Titan Company 2876.25↑20.55(0.72%)
UltraTech Cem. 8021.00↑139.00(1.76%)
UPL 693.55↑3.55(0.51%)
Wipro 396.00↓-8.20(-2.03%)

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

Premium

Chitresh Sharma and Apoorv Kumar, founders of Refyne

3 min read Last Updated : Jan 12 2022 | 1:14 PM IST

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