Argus advises Piramal Capital in funding fintech startup

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Argus advises Piramal Capital

Pune-based fintech digital lending platform EarlySalary mopped-up INR7.75 billion (USD79 million) in a series D funding round. Argus Partners assisted existing investor Piramal Capital and Housing Finance.

Argus partner Vinod Joseph and associate Aryan Mohindroo advised Piramal Capital, also known as Dewan Housing Finance, to stump up INR509 million in EarlySalary in the fresh round of funding.

Other investors included Texas-based private equity company TPG Growth investing INR4.48 billion through its Rise Fund and Norwest Venture Partners deploying INR2.76 billion.

Ashish Goyal and Akshay Mehrotra launched startup EarlySalary in 2015. It provides instant cash and loans to salaried people, which are directly transferred into the borrower’s bank account. The loan tenure is between three months to two years and up to INR500,000.

The startup has also collaborated with companies to help pay employees their salary in advance directly in their accounts in case they require funds for any emergencies.