Exclusive: Kaarva Announces Seed Funding To Bring On-Demand Credit To Salaried Indians
Summary
This makes lending a big opportunity for fintech startups, but with so many players in the market, the credit model is a crucial differentiation. To solve the problem of millennial and Generation Z workers being “broke” in the middle of the month and not being able to deal with emergency spending, Khushboo Maheshwari and Agam Goyal launched Kaarva in October 2018. Talking to Inc42, Maheshwari said that prior to building the product, the company raised an undisclosed amount of seed funding from multiple angel investors in January 2019. The user account includes details of salary schedule, the number of hours worked in the month, which leads to the income earned but unpaid. As expectations of customers evolve, fintech companies have to come up with unique models to cater to the untapped and underserved audiences.