[Funding alert] KarmaLife Secures Rs 44 Cr in Pre-Series A-extension from Krishna Bhupal’s family office, & others

KarmaLife, has secured ₹44 crores in an extension to its Pre-Series funding round led by Krishna Bhupal’s family office and existing investor, Artha Venture Fund, amongst others.

Other investors who took part in the crowdfunding round included Balesh Sharma, Amit Jain, Vikram Kailas, Shaji Kumar Devakar, Net Graph Investments, Singularity Ventures, LogX Venture Partners, and others, as per reported by Indianweb2.

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Rohit Rathi, Co-Founder & CEO, KarmaLife, says, "The company plans to use the fresh capital for scaling, expanding into different geographies, launching more products, and spreading awareness about the product. We welcome this funding round, which reaffirms our investors’ alignment with KarmaLife’s mission. Together, we aim to drive financial inclusion and offer alternatives to predatory lending. Our unwavering goal is to transform the financial lives of millions of blue-collar workers."

KarmaLife was established in March 2020 by Rohit Rathi, Naveen Budda, and Badal Malick, who have more than 25 years of combined business experience. The largest EWA (Earned Wage Access) platform in the country and earning-linked credit to support the gig and blue-collar economies.

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“We invest in people and entrepreneurs who have the vision, purpose, and team, who have the ability to create great teams and execute. This is the secret sauce to creating any great company. Our portfolio spans geographies (Silicon Valley, Singapore, India, etc.) and mission-critical businesses such as fintech, quant investing, wealth management, and healthcare. KarmaLife is creating a long-term business that is underserved not only in India but in markets globally. We share the business' growth plans as a portfolio investment, and more importantly, the impact of the business connects a few hundred million Blue collar and gig entrepreneurs into a network-based approach to transparently access credit which is sustainable and affordable,” says Krishna Bhupal, Chairman of his family office.

About KarmaLife

KarmaLife helps blue-collar gig workers and micro-businesses with their finances. The startup lets users directly pay for essential expenses and smooth their consumption patterns. Through partnerships with digital platforms where gig workers operate, it provides real-time credit based on payroll accounts.

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