HR tech startup Kredily raises $750,000 funding led by Fosun RZ
HR tech startup Kredily has secured $750,000 in seed capital, led by Fosun RZ Capital along with participation from Delhivery co-founder Mohit Tandon and former Zenefits VP Engineering Avinash Anand among others.
The company plans to use the fresh capital raised to grow its product and technology along with introducing new features around performance management, expense management, and asset management on its platform.
Founded in 2017 by IIT Kanpur and IIM Lucknow alumnus Devendra Khandegar, Kredily helps businesses digitize and automate core HR and Payroll related tasks. It also offers employees access to a gamut of financial products like insurance, loans, mutual funds, and other employee benefit options through its Kredily Bazaar offering.
“With less than 10% of SMEs equipped with any HR and Payroll software, we see a huge growth potential. We plan to offer this HR solution as a lifetime free software to all small business in the country. We are seeing very good traction and aim to onboard over 100,000 companies by 2020” said Khandegar.
The Bengaluru-based startup claims that its tech is being used by over 1,000 companies managing HR and Payroll for over 50,000 employees.
Source: ET Tech