EarlySalary is in discussions with TPG and Norwest to raise about $100 million

12 Aug 2022 , 10:38 AM

EarlySalary is completing a $100 million fundraising round that is being spearheaded by private equity fund TPG and Norwest Venture Partners. In the upcoming days, the round is anticipated to get an official announcement.
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EarlySalary, a Pune-based company founded in 2015, gives salaried people immediate loans of up to Rs5 lakh that are disbursed straight into their bank accounts. These loans often have terms of three to 24 months. The firm also collaborates with businesses to assist staff members in receiving a salary advance in their bank accounts for financial assistance with school costs and medical situations. Currently, it has more than 700 corporate partnerships.
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Additionally, EarlySalary holds a non-banking finance company (NBFC) license, allowing it to co-lend to its clients with associates.