The Digital Horizon Venture Fund has joined the list of capital investors in fintech company Refyne. The company has raised $82 million in its Series B funding round, following a Series A round of $16 million in 2021.
Founded by Chitresh Sharma and Apoorv Kumar in 2020, Refyne gives organisations a platform to allow employees access to their real-time income any time before their monthly payday. The platform aims to simplify money and help improve personal finances for the people of India by ending exploitative credit schemes, empowering employees with access to their earned wages, and building trust in the financial system for the underserved. Refyne’s platform is currently used by more than 150 firms and over 700,000 employees.
The new funding will be used for product development, expanding the team and ramping up business functions to support the 3 million workers it aims to serve by the end of the 2022.
Refyne has raised almost $106 million in total.