Rupid

Rupid Technology Labs Private Limited is a financial technology company founded in 2022 by Gowtham Alluri, Karishma Chowdary Ramanavarapu, and PC Varma. Based in Hyderabad, India, the firm specializes in earned wage access (EWA), also known as on-demand pay, to enhance the financial well-being of India's workforce.

The company partners with organizations to offer their employees instant access to a portion of their earned but unpaid salary at any time before the scheduled payday. This service is positioned as a 'Zero cost, Zero risk' solution for employers, as Rupid manages the platform and assumes the liability, requiring no impact on the company's cash flow. For employees, the service provides a digital, on-demand way to manage expenses and avoid high-interest payday loans or other forms of emergency credit. The business model generates revenue by charging employees a small, flat transaction fee for each withdrawal.

The founding team brings together diverse expertise. CEO Gowtham Alluri has a background in fintech entrepreneurship and financial institution collaboration. COO Karishma Chowdary has experience in startup operations, customer support, and HR. CTO PC Varma is a technologist with two decades of experience in engineering. The platform features tools for real-time balance tracking, digital KYC, and integration with human resource management systems (HRMS). In July 2023, Rupid secured $120K in a seed funding round from investors including We Founder Circle, EvolveX, Beej Network, and PedalStart.

Keywords: earned wage access, EWA, on-demand pay, financial wellness, fintech, employee benefits, salary advance, instant salary, financial technology, Hyderabad startup, real-time payroll, employee financial health, workforce management, HR tech, payroll solutions, liquidity solutions, employee retention, no-cost employee benefit, digital lending, B2B2C finance