Exclusive: On-Demand Salary Startup Refyne Bags INR 35 Cr Debt

Refyne, a startup that provides "on-demand salary" or "earned wage access" (EWA) solutions, has secured Rs 35 crore in debt funding. This capital will be used to expand the company's operational capacity and provide on-demand salary access to a larger number of employees through its corporate partners. Refyne's platform integrates with a company's HR and payroll systems, allowing employees to withdraw a portion of their earned but unpaid salary at any time before the official payday. This helps employees manage their mid-month cash flow needs and avoid high-interest payday loans. The debt funding will provide the necessary liquidity for Refyne to facilitate these withdrawals. This financial backing is a vote of confidence in the EWA model, which is gaining traction as a valuable employee financial wellness benefit in India.