SalarySe, a salary-powered fintech platform, has raised $11.3 million in its Series A funding round led by Flourish Ventures. The round also saw participation from Susquehanna Asia VC and existing investors, Peak XV’s Surge and Pravega Ventures.
The fresh funds raised will be used to expand its financial management solutions for India’s growing base of salaried employees. The funds will help it scale operations, strengthen technology, and expand distribution.
Founded in 2023 by Saumeet Nanda, Mohit Gorisariya, and Piyush Bagaria, SalarySe is a salary-powered fintech platform that helps salaried employees manage credit cards, salary advances, and loyalty rewards.
SalarySe leverages technology and a unique employer-linked model to bring multi-product personalised and AI-enabled employee wellness offerings.
SalarySe is on a mission to empower 100 million salaried employees in India to spend, save, invest and plan their salaries smartly in order to reduce financial stress in their lives.
The company’s flagship Credit-on-UPI product for salaried employees, launched in partnership with top Indian banks, HR SaaS platforms, and marquee global corporate customers, has delivered a successful impact and experience for both employees and employers.
SalarySe’s solutions, launched in partnership with the Top Banks in India such as HDFC and RBL, have already seen strong traction amongst 100+ multinational corporations, GCC and Indian corporates, including multi-billion-dollar global logos across sectors such as IT, Healthcare, BFSI, and manufacturing. These solutions have helped employees leverage SalarySe’s new age UPI-linked curated payments, rewards, credit and savings options, while simultaneously enabling employers to improve retention, engagement, and productivity.
The company plans to reach 1000+ corporates with 20 million+ employees in the next three years.
Piyush Bagaria, Co-Founder, SalarySe, said, “Salaried employees are the backbone of India’s economy, yet they often face limited access to transparent and curated financial solutions. With this round, we are doubling down on our vision to reimagine salary-linked financial products that put employees in control of their finances and their future. This funding will further propel SalarySe in its endeavour to evolve as the go-to financial partner for every salaried individual in India.”
Ravi Kaushik, Executive Director and Head of Asia Investments, Flourish Ventures, said, “SalarySe is addressing a critical gap by linking financial products such as Credit on UPI directly to income, ensuring that salaried employees have access to timely, fair, and responsible credit. We believe that the platform’s approach addresses immediate cash flow needs while laying the foundation for long-term financial well-being. This alignment makes SalarySe a unique player in India’s financial ecosystem.”
Bhavanipratap Rana, Investment Advisor at Susquehanna Asia VC, said, “Products like credit-card-on-UPI are reshaping how consumers engage with financial products in India, in a digital-first, high-frequency manner. The opportunity to help salaried Indians improve financial management right from the source, with support from employers, is one that we believe is massive. We’re excited to support SalarySe in this journey.”
“Credit-on-UPI represents the next frontier in India’s digital credit ecosystem. SalarySe is enabling this shift through its innovative, employer-linked model that makes credit access seamless and responsible for the salaried workforce,” said a spokesperson from Pravega Ventures.
