Refyne, a Bengaluru-based supplier of earned wage access (EWA) solutions, has raised $82 million in a Series B round of funding headed by Tiger Global Management.
The company, which was created in 2020 by Chitresh and Apoorv Kumar, operates on a Business-to-Business-to-Consumer (B2B2C) model, in which a corporation provides a service to its employees as part of their paycheck. It can work with the company’s current Human Resource Management System (HRMS) and Enterprise Resource Planning (ERP) service. For major organisations looking to grow EWA for on-roll and off-roll staff, Refyne additionally offers a unique vendor management system and attendance management system.
Over seven lakh employees in 150 organisations use Refyne’s services, which are available in 12 Indian languages. Over the next year, it hopes to hire 30 lakh people.