Karmalife

KarmaLife is a leading Earned Wage Access (EWA) platform based in India, providing real-time credit solutions to gig workers. The company operates in various sectors including e-commerce, mobility, logistics, food-tech, and Field Operations Services (FOS). Their business model is designed to cover all job roles, compensation structures, recruitment models, and payment cycles, making it a comprehensive financial platform for the workforce.

KarmaLife's primary service is providing small credit to workers, which is made easily accessible with digital onboarding and 24/7 availability of funds. This eliminates the need for paperwork and simplifies the process for the workers. The company has also introduced Deduction at Source (DAS) in India, a system that simplifies loan repayments, EMIs, insurance premiums, and savings contributions by deducting them directly from worker payouts.

The company generates revenue by charging fees for its services, including providing loans and facilitating wage access. It has also partnered with other companies, like LenDenClub, to provide loans for gig workers, further expanding its revenue streams.

KarmaLife has a strong leadership team with extensive experience in startups, fintech, and technology. The company has also successfully raised funds from investors, including a recent round of Rs 44 crore from Artha Venture Fund, demonstrating investor confidence in its business model and growth potential.

Keywords: Earned Wage Access, gig workers, real-time credit solutions, digital onboarding, Deduction at Source, financial platform, small credit, loan repayments, partnerships, fundraising.