Refyne, an on-demand wage startup, has completed a Series B funding round led by Tiger Global in Bengaluru. Existing investors, QED Investors, DST Globals partners, and others also participated.
Refyne, an on-demand wage startup, has completed a Series B funding round led by Tiger Global in Bengaluru.As a new investor, Digital Horizon has emerged.Existing investors, QED Investors, DST Global's partners, and others also participated.Refyne has raised $106 million in total.
The funds will be used to further develop the product line and the company's expansion.Refyne, which was established by Chitresh Sharma and Apoorv Kumar last year, has collaborated with more than 150 organizations, catering to over 700,000 employees.Customers include Practo, TeamLease, Cars24, Tenon, Shadowfax, Rebel Foods, Acko, BlackBuck, Aarti Industries, and Cafe Coffee Day.Refyne was created on the basis that everyone should be able to manage their personal finances without being put in debt traps as a result of liquidity shortfalls between pay cycles.Tiger Global's founder Sharma said that the support and confidence that global investors have shown us is a sign of our purpose.