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Indian employee benefit startup Jify raises $10 million

Jify, an India-based employee benefit startup which helps employees to have practical savings and improved finances has raised $10 million in funding from Accel and Nexus Venture Partners. * The fund will be used to strengthen its fintech product offerings, drive up customer acquisition, and increase its adoption among the workforce

Oluwajuwonlo Afolabi profile image
by Oluwajuwonlo Afolabi
Indian employee benefit startup Jify raises $10 million
Photo by Stephen Phillips - Hostreviews.co.uk / Unsplash

Jify, an India-based employee benefit startup which helps employees to have practical savings and improved finances has raised $10 million in funding from Accel and Nexus Venture Partners.

  • The fund will be used to strengthen its fintech product offerings, drive up customer acquisition, and increase its adoption among the workforce in India.
  • Founded in 2021, Jify partners with companies to enable employees to access their earned salary on-demand in real-time and at no cost.
  • The startup offers 'smart spend' and 'smart save' to enable employees to track their spending, set realistic saving goals, access smart budgeting and a digital card, and also get simple financial advice on its app.
  • It also allows employees to view their accrued earnings and withdraw a portion of their salary for the days they worked, to avoid falling victims to predatory loan systems.
Oluwajuwonlo Afolabi profile image
by Oluwajuwonlo Afolabi

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