Bengaluru-based Tartan, a payroll and work management startup, has raised $4.5 million in a pre-Series A funding round led by 500 GLobal, InfoEdge Ventures, AngelList Quant Fund, WorldQuant Ventures, Varanium GenNext Fund, 9 Unicorns, Yatra Angel Network, Emphasis Ventures, and Naveen Kukreja.
Tartan, which has now raised roughly $6 million in funding till date, provides a white-labeled application programming interface (API) suite to financial institutions to help them access their consumers’ payroll data with their consent to verify their income and employment status.
It has also launched an employee benefits marketplace called Batik which is being used by HR management software providers alike to seamlessly offer simplified benefits to their employees at a discounted cost.
Benefits on the platform range from financial, health, and mental wellness options through a network of partners, it said. Through Batik, the startup also said, it is focussing on helping fintech lenders and providers to build several products such as earned wage access (EWA), salary-linked loans, credit card limit management, and emergency funds and distribute to the workforce directly through their employers.
Founded in June 2021 by Meet Semlani and Pramey Jain, the startup said it will use the raised funding to expand its go-to-market operations, expand its in-house engineering team, and further enhance its product offerings. It also plans to double its employee headcount to 110 people.
Within a year of launch, Tartan claims to have scaled its data connectivity coverage to more than 20 million white-collared employees and gig workers in India. Additionally, Its API requests have grown to 150,000 per month, it claims.
“Over the last year, rapid adoption of our product has exceeded our expectations as more and more ambitious businesses are choosing the right tools that allow them to build and launch their products for the key pillars of the economy, that is the workforce.” Pramey Jain, Co-founder & CEO of Tartan, said.
Currently, The startup is working with more than 80 customers and partners, which include banks, fintech lending platforms, credit bureaus, insurance providers, and recruitment agencies.
Source @Indianstartupnews
