karmalifeKarmaLife CEO & Co-Founder, Rohit Rathi ('08), is unleashing financial revolution for blue collar employees

Trak.in (May 4, 2022)

[Exclusive Interview] KarmaLife Is Unleashing Financial Revolution For 40 Crore Blue Collared Employees

Recently we interacted with Mr. Rohit Rathi, Co-Founder & CEO, KarmaLife, which is aiming to empower 40 crore gig and contract workers, and provide them with a financial cushion.


Here are the highlights from the interview..

1. What is KarmaLife? Please tell us more about the business and when did you start?

Karmalife is India’s 1st real-time credit solutions provider that empowers blue collar workers to access low-cost, highly-relevant and easy-to-use financial services across their full spectrum of needs. Today, our services are intermediated through employers and aggregators of aspiring but underserved worker segments. These include many new-to-credit users, who regularly earn, spend and have recurring financial needs, but are left out of the formal financial ecosystem and have to rely on expensive and inefficient alternatives.

At the core, we offer Earned Wage Access which gives workers future earnings-linked credit at little to no risk, enabling them to better align their income and expenses. And around this we’ve built deeper liquidity, savings, investments and insurance solutions with which workers’ can manage longer term financial needs and become more resilient. We do this by using high-frequency data associated with workers, their activities and transactions, which feeds into our proprietary risk score called KarmaScore, and applies deep AI to understand, assess, predict and influence behavior to drive better risk outcomes.

We started this journey in early 2020, and have deployed our solution with most top digital gig platforms across sectors like ecommerce, B2C and B2B logistics, food, mobility, home services, and flexi-staffing. (Read More)