Refyne is a financial wellness platform based in Bengaluru, India. Founded in 2020 by Apoorv Kumar and Chitresh Sharma, Refyne offers Earned Wage Access (EWA) services, allowing employees to access their salaries before the payday. As of 2025, Refyne has raised approximately $106 million in funding, majorly backed by prominent investors like Tiger Global Management and XYZ Venture Capital. The platform is designed to cater to large-scale enterprises, empowering employees with financial stability by aligning their income with expenses and reducing dependence on costly credit schemes.
Attribute | Information |
---|---|
Founding Date | 2020 |
Headquarters | Bengaluru, India |
Founders | Apoorv Kumar, Chitresh Sharma |
Revenue | ₹59.7 crore as of March 31, 2024 |
Profits | Net loss of INR 33.9 crore in FY24 |
Key Investors | Tiger Global Management, XYZ Venture Capital |
Industry | Financial Wellness, Earned Wage Access |
Number of Employees | 149 as of April 30, 2025 |
Refyne began its journey in 2020 amid the growing need for financial empowerment tools that allow employees to manage cash flow effectively. Established by Chitresh Sharma and Apoorv Kumar, the startup aimed at addressing the liquidity crunch faced by employees between pay cycles. Within a year of inception, Refyne launched its Salary On-Demand product, leading the charge in the Earned Wage Access sector in India. With early backing from Tiger Global and a host of venture capitalists, Refyne quickly expanded its network across various sectors, garnering significant traction and strategically embedding its solutions into numerous corporate payroll systems.
Refyne operates on a B2B2C model, partnering with enterprises to allow real-time wage access to their employees. The platform ensures data privacy and seamless integration with existing HR systems:
As of 2025, Refyne stands as a leader in the financial wellness industry with substantial influence across Asia. Its platform is pivotal in providing financial literacy and access to funds without necessitating traditional credit checks. The company's strategic alliances and innovative product expansions continue to bolster its market position. Notably, Refyne's approach to engaging users through night-time availability distinguishes it as a flexible solution for emergencies, thus significantly contributing to employee retention and satisfaction.
Refyne exemplifies rapid growth and innovation within the financial technologies sector, substantially impacting workforce financial wellness in India. The platform's cutting-edge Earned Wage Access service empowers employees and mitigates the common financial stress faced due to delayed pay cycles. Moving forward, with its current trajectory and strategic investments, Refyne is well-positioned to further entrench its dominance in the financial wellness domain and expand its reach across international markets, continuing to drive significant advancements in financial inclusion and employee financial health.