EarlySalary Strengthen Its BNPL Offering and Forays into the Healthcare Sector

14 Feb 2022 , 05:35 PM

Business Wire India

Mr. Akshay Mehrotra, Co-Founder and CEO, EarlySalary

Mr. Parvaiz Hussain, Business Head
EarlySalary, India’s largest consumer lending platform for young professionals, launches Health Category to strengthen its BNPL portfolio.  EarlySalary brings onboard Mr. Parvaiz Hussain, the CEO and Co-Founder of HealthFin, who will now be leading Health Category and Strengthen its BNPL offering which includes EdTech, Consumer Tech, Insurance and HealthCare categories.

Parvaiz Hussain brings his experience of building a health-focused lending platform with partners of around 1,000 hospitals like Apollo, Fortis, Wockhardt and more to EarlySalary.

EarlySalary BNPL offerings provide exceptional services like customized loans at the lowest interest to customers and integrated tech systems to merchants across categories that offer the fastest approval rate and superior customer experience. The product will focus on three categories – Emergency & Operative Medical Care Treatment, Elective and Planned Treatment and Cosmetic & Aspirational Treatments. Over the next 18 months, it aims to cover a few thousand Hospitals, Medical Procedures, Products and Services available to its users on No Cost EMI as a part of its offerings.

With EarlySalary Health, the company continues to further its mission to serve every need of young, aspirational and tech-savvy Indians. A market leader in the lending space, it has disbursed more than 2.3 million loans worth over Rs. 5,000 crores – logging in almost 1 lakh loans a month. This new product offering will also help the company tap into the healthcare lending space that is largely under-served.

On the occasion, Akshay Mehrotra, CEO and Co-Founder, EarlySalary said, “Affordability is key in BNPL Category. With BNPL offering, it allows aspiring Indian’s access to services and products which were earlier out of access. EarlySalary Health will strengthen our BNPL offering and help us serve many more customers in a seamless manner. We welcome Parvaiz to the EarlySalary family.”

Parvaiz Hussain said, “I am looking forward to being a part of EarlySalary Health and leading it towards new directions. At HealthFin, we were able to scale the category to nearly 50,000 customers but with EarlySalary deeper reach, larger demographic serving capabilities and stronger systems – I believe we can build a very large business in Health as BNPL Business.”

About EarlySalary

EarlySalary is one of India’s leading consumer lending apps focused on young, aspirational and tech-savvy Indian consumers. It is a financial ecosystem that enables the mid-income group to upgrade their lifestyle. It has launched a host of financial products short-term Instant Cash Loans, long-term Personal Loans, Buy Now Pay Later plans, and the SalaryCard. It offers a 100% digital loan application process that takes just seconds to complete. The company has already disbursed nearly 2.3 million loans worth Rs. 5,000 crores.