Total amount raised
₹437.1 Millions
Latest funding date
1/1/2024
Location
SalarySe has successfully raised $5.25 million in a seed funding round, with investments led by Peak XV Surge and Pravega Ventures. The company offers a Credit-on-UPI platform designed exclusively for salaried employees.
Keep reading to explore the intricacies of SalarySe's fundraising journey and the investors backing this innovative platform.
What Is SalarySe?
Founded in 2020, SalarySe is a fintech company based in Gurgaon, Haryana, India. The company specializes in providing a Credit-on-UPI platform exclusively for salaried employees.
SalarySe was established by a team of innovative founders whose names are not publicly disclosed. The company aims to revolutionize financial management and salary planning for its users.
With a small but dedicated team of 1-10 employees, SalarySe offers services like instant salary advances, investment options with fixed returns, and a rewards-based credit card known as the UP card.
How Much Funding Has SalarySe Raised?
- Seed Round
- Amount Raised: $5.25 million
- Date: January 2, 2024
- Lead Investors: Surge Ventures, Pravega Ventures
- Valuation at Round: $15 million
- Motivation Behind the Round: To develop the company's tech stack for a credit-on-UPI feature and drive product adoption in India.
Total Amount Raised: $5.25 million. Current Valuation: $15 million.
Key Investors
- Surge Ventures
- Details: Surge Ventures is the early-stage venture capital arm of Peak XV Partners, formerly known as Sequoia India & Southeast Asia. They focus on helping startups scale rapidly through their Surge program.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: Not publicly disclosed.
- Pravega Ventures
- Details: Pravega Ventures is an early-stage venture capital firm that invests in technology-driven startups. They aim to support companies with high growth potential.
- Investment Focus Areas: Technology, early-stage startups, innovation.
- Notable Investments: Not publicly disclosed.
What's Next for SalarySe?
SalarySe is poised to tap into a vast market of over 100 million salaried individuals in India with its innovative credit-on-UPI feature. By partnering with HR SaaS providers, banks, and employers, the company aims to integrate financial services seamlessly into the daily lives of its users, leveraging the widespread acceptance of UPI.
As the company scales, future fundraising rounds seem likely, especially given the successful seed round and the establishment of an employee stock option pool. However, SalarySe will need to navigate regulatory scrutiny and intense competition from other fintech firms, ensuring responsible lending practices while expanding its user base.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like SalarySe and gather other critical business insights. Sign up for free today and elevate your sales strategy with the power of detailed, actionable information.
