Gurugram-based fintech platform SalarySe has raised $11.3 million (approximately ₹94 crore) in a Series A funding round led by Flourish Ventures, with participation from SIG Venture Capital (Susquehanna Asia VC) and existing backers Peak XV Partners’ Surge and Pravega Ventures.
The company said the new funds will be used to scale its salary-powered financial services, expand partnerships with enterprises, and strengthen its technology infrastructure. With this round, SalarySe’s total funding has reached $16.6 million.
Founded in 2023 by Piyush Bagaria, Saumeet Nanda, and Mohit Gorisariya, SalarySe partners with leading Indian banks including HDFC Bank and RBL Bank to offer Credit-on-UPI products tailored for salaried users. Its platform integrates with HR SaaS systems and large enterprises to provide embedded financial products such as salary advances, payments, and credit management tools.
Co-founder and CEO Piyush Bagaria said the startup plans to expand its enterprise base from 100 clients to over 1,000 within two years, aiming to reach 20 million employees, up from 1.5 million currently.
SalarySe’s products are currently used by over 100 multinational corporations and global capability centers across IT, healthcare, BFSI, and manufacturing sectors. The startup is operating at an annualized GMV of ₹600–700 crore.
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