Indian employee benefit startup Jify raises $10 million

Oluwajuwonlo Afolabi -

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.