EarlySalary raises $110 million in a $300 million Series D financing

30 Aug 2022 , 10:36 AM

The largest investment round for consumer loan platform EarlySalary, which was led by Norwest Venture Partners and TPG’s The Rise Fund, garnered $110 million at a valuation of $300 million.

Piramal Capital & Housing Finance Limited made an investment in Series D, which included both primary and secondary share sales. Within the next 12 months, the company intends to scale its operations using the funds raised.

Ashish Goyal and Akshay Mehrotra founded EarlySalary in Pune in 2015 to offer working professionals loan options of up to Rs5 lakh. Before starting EarlySalary, Goyal was the Chief Investment Officer of Bajaj Allianz General Insurance, while Mehrotra was the Chief Marketing Officer for the Big Bazaar and Policybazaar retail chains.

For its customer sector, EarlySalary provides Buy Now Pay Later (BNPL) services for financing consumer goods in the areas of health, education, and finance.  

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