VC Fund Investments
Fintech startup KarmaLife raises $2.2 M from Artha Venture Fund, others
Bengaluru-based KarmaLife, a credit solutions provider for gig workers, has raised USD 2.2 million in a pre-series A round from Artha Venture Fund (AVF). Netgraph Investment, LV Angel Fund, Singularity Ventures, and angel investors including Abhinav Sinha (CDC Group PLC), Amit Jain (CEO - Global Equity London), Balesh Sharma (MD - Vodacom South Africa, ex-CEO Vodafone Idea), Vamsi Udayagiri (Founder - Hesa), Vikram Kailas (MD & CEO - Mytrah Energy) and Prateek Agarwal (ex-CBO - BharatPe), also participated in the round. KarmaLife aims to solve the liquidity problem for gig workers and offers financial products linked to their earnings and transaction history as well as mobile usage behaviour. Personalised, subscription-based credit products, such as Earned Wage Access and dynamic Line-of-Credit, are offered based on a proprietary real-time credit scoring system called ‘ KarmaScore.' KarmaLife caters to the gig and contract workers associated with brands such as Flipkart, Delhivery, Zomato and Uber.
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