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Overview
Refyne offers a financial wellness platform in India that lets employees access a portion of their earned salary before payday. The service plugs into a company's existing HRMS or rewards tools, so it can be offered without affecting payroll cash flow. It also provides financial education, coverage plans, and small-amount gold savings options to help employees manage finances. Employers pay a service fee, and Refyne emphasizes security and compliance with ISO 27001 and Indian labor laws to reduce financial stress, boost productivity, and lower turnover.
About Refyne
Industries
Enterprise Software
Fintech
Financial Services
Company Size
201-500
Company Stage
Debt Financing
Total Funding
$106.1M
Headquarters
Bengaluru, India
Founded
2021
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Simplify's Take
What believers are saying
- Stride Ventures provided ₹35 crore debt in June 2025 for working capital.
- Operating revenue rose 59% in FY24, showing stronger monetization momentum.
- The website claims 1 crore lives reached, supporting cross-sell into coaching, insurance, and payments.
What critics are saying
- FY24 showed a ₹33.9 crore net loss despite ₹49 crore operating revenue.
- The app listing reveals loan-like pricing, pushing Refyne toward regulated credit scrutiny.
- Dependency on employer partnerships makes churn existential if payroll integrations stall or competitors undercut pricing.
What makes Refyne unique
- Refyne owns India’s earned wage access niche, with HRMS-integrated salary withdrawals in 30 seconds.
- Its product suite now spans Scan and Pay, Refyne Card, insurance, and digital gold.
- The company claims ₹48,000 crore salary flow, suggesting deep transaction activity across employers.
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Funding
Total Funding
$106.1M
Above
Industry Average
Funded Over
4 Rounds
Tiger GlobalBenefits
Flexible Work Hours
Remote Work Options
Growth & Insights and Company News
6 month growth
↓ -3%1 year growth
↓ -1%2 year growth
↓ -1%Refyne, an earned wage access platform, has secured ₹35 crore ($4 million) in debt from Stride Ventures by issuing 3,500 Series A debentures at ₹1 lakh each. The funds will be used for working capital and corporate purposes. Despite a net loss of ₹33.9 crore in FY24, down 27% from the previous year, Refyne's operating revenue increased by 59% to ₹49 crore. The startup has raised over $102 million in total funding, with Tiger Global as a key backer.
Fintech soonicorn Refyne, a platform which helps employees draw their salaries on demand, has secured INR 35 Cr (around $4 Mn) debt from Stride Ventures.
Swiggy, which receives over 1.5 lakh loan applications monthly, has partnered with Betterplace and Refyne to enable loans.
Bangalore, September 28, 2022: - Refyne, India’s leading financial wellness and Salary On-Demand provider has launched two new solutions, Financial Coaching and Salary Top Up for employees.
Back in 2017, when Rohit Rathi was looking for a house near his new office and negotiating the security deposit, he was surprised at the readiness with which the landlord lowered his ask after learning that Sachin Tendulkar had invested in his previous startup. Rohit pondered the incident for a while, and then came to the conclusion that trust networks were essential for humans to navigate society. If bank X gave you a loan, bank Y was likely to give you one too
Refyne is Hiring for 10 Jobs on Simplify!
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About Refyne
Industries
Enterprise Software
Fintech
Financial Services
Company Size
201-500
Company Stage
Debt Financing
Total Funding
$106.1M
Headquarters
Bengaluru, India
Founded
2021
Refyne is Hiring for 10 Jobs on Simplify!
Find jobs on Simplify and start your career today