- FinTech start-up EarlySalary.com, led by Akshay Mehrotra, Ashish Goyal, & Jay Jain, has raised USD 1.5 Million as seed capital investment
- Seed funds invested by a group of investors led by Ashok Agarwal of Transcorp Group
- Aims to introduce mobile app-based lending platform in 3 months
- EarlySalary is small bridge loan given till the next salary credit
EarlySalary.com, a FinTech startup, has successfully raised USD 1.5 million seed capital from Ashok Agarwal of Transcorp Group. The seed raised will be used towards building a mobile app-based lending platform that is set to revolutionize the lending space in the country. The venture is co-founded by a 3-member team comprising of Akshay Mehrotra, Ashish Goyal, & Jay Jain.
Seed capital investor Ashok Agarwal of Transcorp Group commented
“FinTech and e-lending platforms will lead the next batch of innovation in the e-Commerce space. EarlySalary.com is just the disruption that we were looking for, and we strongly believe it has all it takes to give the retail lending industry a new direction. The team bring together an amazing mix of both experience & energy to give the company a healthy shape. In the upcoming months, look forward to experience new age lending products by EarlySalary.com for the young Indian customer.” Speaking on the occasion, Akshay Mehrotra, Co-Founder & CEO of the venture said, “
We as a population are dominated by a strong middle class & young individuals. There have always been times of the month where we are left with empty pockets. Being broke at the end of the month is a common problem, and EarlySalary.com plans to help provide a small bridge loan to tide over that short difficult period till your salary reaches your account.” Akshay further explained, “
EarlySalary.com moves away from conventional underwriting formulae of lending and looks more towards the e-Information of an individual to truly deliver an e-Commerce experience, instant approval followed by disbursement. We are confident EarlySalary.com will usher in a new way for the financial services business in the country powered by Social Media & strong Data Analytics.” The mobile first app aims to reach out to ever connected individuals. With EarlySalary.com’s technology driven approach, it hopes to solve the issues of transparency and mitigating information asymmetry. EarlySalary.com App aims to make the process simple, quick, and trustworthy.
Founding Team behind EarlySalary.com Akshay Mehrotra, Co-Founder & CEO
- 12 years experience, MBA – Symbiosis Institute of Management Studies
- Chief Marketing Officer – Future Retail Ltd (Big Bazaar), 2013-15
- Chief Marketing Officer – PolicyBazaar.com | etechaces pvt ltd, 2011-13
- Head Marketing & Corporate Communication – Bajaj Allianz Life Insurance, 2004-11
Ashish Goyal, Co-Founder & CFO
- 14 years experience, Chartered Accountant
- Chief Investment Officer – Bajaj Allianz General Insurance
Jay Jain, Co-Founder & COO
- 12 years experience - Serial Mobile entrepreneur
- Director & Co-founder – m-AdCall Digital Media Pvt Ltd & Astute Systems Technology Pvt Ltd
Ashok Agarwal
- Director at Transcorp International Limited and Founder of Indian Institute of Health Management Research
- Ashok Agarwal started the first BOT (Build Operate Transfer) road bridge project in Northern India on a unique PPP (Public Private Partnership). He serves on the board of several companies in India and Malaysia. He is also involved in the money transfer industry as a principal agent of Western Union and deals is into other businesses including foreign exchange services, insurance, travel and real estate development. He is a Trustee at Johns Hopkins University, Baltimore, USA. He set up the Indian Institute of Health Management Research (now IIHMR University) - the first such institution in Asia. He serves as the Managing Trustee of Bhoruka Charitable Trust, an independent NGO that operates self-empowerment projects in the fields of education, water, sanitation, health and micro finance in over 1500 villages in Rajasthan and South India
About EarlySalary.com EarlySalary.com is an innovative lending platform that will change the way loans in India are taken. Being a new age online brand, it brings together new credit scoring systems for superior customer profiling; its mobile first strategy will help customers get loans within minutes. The online platform is backed by a strong leadership team that aims to build a new credit scoring platform that combines traditional credit scoring with new social and online scoring technology-linked risk assessment concepts, to deliver a revolutionary new business model set to change the lending market in India. Photo Caption: ‘From Left to Right: Ashish Goyal – CFO, Akshay Mehrotra – CEO, Jay Jain – COO’
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