KarmaLifeAI

KarmaLifeAI

Financial Services

Bangalore, karnataka 14,373 followers

India’s largest EWA (Earned Wage Access) & earning-linked credit platform to empower Gig & Blue Collar Economy

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About us

As the largest EWA player in India, we are the pioneers of an ecosystem that can impact millions of lives. Studies by BCG have suggested that in 2020-21, 77 lakh (7.7 million) workers will be engaged in the gig economy and this workforce is expected to expand to 20+ crore (200+ M) workers by 2029-30. Owing to the dependence of Indian business on gig workers, the pressure on this community is very high. Therefore, creating sustainable livelihood opportunities for lower-income workers is essential. A study that we did in 2022, confirms that despite making up 85% of the Indian workforce, gig workers in India have irregular cash flows, and any sudden expenditure can upset their financial stability. We use data points to understand and underwrite gig workers based on their current behaviour and not their financial histories. This also goes well with the company’s tech-driven approach instead of a transaction-driven one. As a starting point, we offer Earned Wage Access (EWA) — a financial product that gives people access to a portion of their earnings any time before payday. It focuses on providing a small-ticket credit linked to future earnings. Hence, we are not only helping gig workers with access to financial products more easily but also more responsibly. We work with EWA or earnings -linked credit, and other small-ticket, short-term credit products to resolve the "month end" crisis for the sector. This allows users to flexibly borrow money during medical and other unforeseen emergencies more easily. We are working to build a sustainable future for the gig economy. Recognising the massive potential and pain points of the gig and blue collar economy, we share the enthusiasm of all stakeholders working to help it grow and improve its wellbeing. The employer par also extends services to users through partnerships with employers and aggregators of gig workers with its plug-and-play platform, which integrates with most HR management systems in minimal set up time

Website
https://www.karmalife.ai/?utm_source=LinkedIn_button&utm_medium=LinkedIn_button&utm_campaign=LinkedIn_button
Industry
Financial Services
Company size
51-200 employees
Headquarters
Bangalore, karnataka
Type
Privately Held
Founded
2020

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  • View organization page for KarmaLifeAI, graphic
    KarmaLifeAI

    14,373 followers

    Effective cash flow management is critical for businesses. Earned Wage Access (EWA), originally designed for employee financial relief, can be a key tool for managing business cash flow. EWA is a strategic tool that significantly enhances cash flow management by reducing borrowing needs, improving payroll flexibility, and increasing financial stability. KarmaLife offers tailored EWA solutions, integrating easily with payroll systems and fostering financial wellness among gig workers. With KarmaLife, you can harness the full potential of EWA, driving growth and financial health, while enhancing workforce satisfaction and productivity. #KarmaLife #EWA #Cashflow

  • View organization page for KarmaLifeAI, graphic
    KarmaLifeAI

    14,373 followers

    People Diaries | KarmaLife Stories At KarmaLife, every voice matters, and today, we're excited to share Lavita Vinayak Shetty 's inspiring journey! 💬✨ A trained psychologist with a passion for numbers, Lavita found her perfect match at KarmaLife, where she blends her skills in psychology with data to drive meaningful change. 🙌 Her love for numbers and the opportunity to positively impact gig workers' lives made KarmaLife the right choice for her. Stay tuned as we continue to spotlight the incredible individuals powering our mission! 💼 #PeopleDiaries #KarmaLife

  • View organization page for KarmaLifeAI, graphic
    KarmaLifeAI

    14,373 followers

    🤔 Are gig workers truly entrepreneurs? 🤔 Gig workers may operate differently from traditional entrepreneurs, but they manage their own finances, invest in work tools, and navigate market risks—hallmarks of entrepreneurship. Should we start recognizing them as nano-entrepreneurs? Let’s hear your thoughts! 📊 Vote now and help shape the conversation around the evolving gig economy and the financial independence of gig workers. KarmaLife is already empowering gig workers with financial tools tailored to their needs. Now, it’s time for everyone to recognize their entrepreneurial spirit. 💪 #OwnYourHustle #NanoEntrepreneurs #EntrepreneursAtHeart #KarmaLife

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  • View organization page for KarmaLifeAI, graphic
    KarmaLifeAI

    14,373 followers

    As we celebrate Diwali, a time of prosperity and new beginnings, imagine lighting up your business growth in the same way—with solutions that bring real, lasting impact. 🎇 KarmaLife’s Earned Wage Access (EWA) is not just an employee benefit; it’s a strategic powerhouse. By empowering your workforce to access earned wages instantly, EWA addresses financial stress at the root, helping employees feel secure and focused. The results speak volumes: 32% boost in productivity and 25% improvement in retention, all with zero strain on your working capital and minimal overhead. This Diwali, spark growth and stability for your business. Empower your team with financial flexibility, see the rewards in their engagement, and let EWA drive a prosperous future for your company. Here’s to a brighter, more empowered workforce and a flourishing business year-round. 🌟✨ #HappyDiwali #EmpoweredWorkforce #EWA #KarmaLife

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  • View organization page for KarmaLifeAI, graphic
    KarmaLifeAI

    14,373 followers

    While traditional wage workers clock in for steady pay, nano-entrepreneurs (gig workers) take charge of their own financial journey, making business investments, managing risks, and driving their own success. 📊 Wage Worker: Stable income through fixed contracts 📃 Company-provided tools 🛠️ Access to social security and benefits 🏥 🚀 Nano-Entrepreneur: Earnings tied to performance and market demand 📈 Investment in personal tools and equipment 🚗📱 Responsibility for business costs (fuel, maintenance, insurance) 💰 No guaranteed social security or income support ⚠️ Unlike wage workers, nano-entrepreneurs face income uncertainty but are empowered to shape their financial destiny. They’re more than just workers—they’re investors in themselves. It’s time to recognize and support their entrepreneurial spirit with better financial tools and opportunities! #OwnYourHustle #NanoEntrepreneurs #EntrepreneursAtHeart #KarmaLife

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Funding

KarmaLifeAI 5 total rounds

Last Round

Non equity assistance

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