About KarmaLife
KarmaLife is a company based in Bengaluru (India) founded in 2020 by Badal Malick, Rohit Kumar Rathi, and Naveen Budda.. KarmaLife has raised $9.02 million across 6 funding rounds from investors including Angel List, Wellfound and LetsVenture. KarmaLife offers products and services including Earned Wage Access, Line of Credit, and Personal Loan. KarmaLife operates in a competitive market with competitors including Flex Salary, PerkFinance, OptaCredit, SalaryCredits and Vrddi, among others.
- Headquarter Bengaluru, India
- Founders Badal Malick, Rohit Kumar Rathi, Naveen Budda
- Stage Minicorn
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Sectors
TechnologyFinancial Services
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Email
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Phone
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Website
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Social
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- Legal Name Onionlife Private Limited
- Date of Incorporation 12 Mar, 2020
- Jurisdiction Bangalore South, Karnataka, India
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Annual Revenue
$829.74 K (USD)208.37as on Mar 31, 2024
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Net Profit
$-1.6 M (USD)-60.14as on Mar 31, 2024
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EBITDA
$-1.79 M (USD)-69.85as on Mar 31, 2024
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Total Equity Funding
$9.02 M (USD)
in 6 rounds
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Latest Funding Round
$5.34 M (USD), Series A
Mar 31, 2023
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Investors
Angel List
& 44 more
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Employee Count
Employee Count
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Products & Services of KarmaLife
KarmaLife offers a comprehensive portfolio of products and services, including Earned Wage Access, Line of Credit, and Personal Loan. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Early access to accrued earnings for gig workers
Flexible credit options for immediate financial needs
Small loans with easy digital approval for workers
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Funding Insights of KarmaLife
KarmaLife has successfully raised a total of $9.02M across 6 strategic funding rounds. The most recent funding activity was a Series A round of $5.34 million completed in March 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series A — $5.3M
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First Round
First Round
(16 Jun 2020)
- Investors Count 45
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2023 | Amount | Series A - KarmaLife | Valuation | Artha Venture Fund , Krishna Bhupal’s Family Office | |
| Jan, 2022 | Amount | Seed - KarmaLife | Valuation | Vikram Kailas | |
| Sep, 2021 | Amount | Seed - KarmaLife | Valuation | LetsVenture |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in KarmaLife
KarmaLife has secured backing from 45 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Angel List, Wellfound and LetsVenture. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital investments in Indian startups across various sectors.
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Founded Year | Domain | Location | |
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Sector-agnostic incubation services are provided to startups across industries.
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Founded Year | Domain | Location | |
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Venture capital firm focused on multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by KarmaLife
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - KarmaLife
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Karmalife Comparisons
Competitors of KarmaLife
KarmaLife operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Flex Salary, PerkFinance, OptaCredit, SalaryCredits and Vrddi, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Offers a line of credit secured against monthly salaries.
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| domain | founded_year | HQ Location |
Mobile-based lending and financial services are offered to blue-collar workers.
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| domain | founded_year | HQ Location |
Operates an online platform providing payday loans tailored for salaried employees.
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| domain | founded_year | HQ Location |
Offers an app-based platform for payroll loans to users.
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| domain | founded_year | HQ Location |
A tech-enabled solution for employee financial wellness in organizations.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Karmalife
Frequently Asked Questions about KarmaLife
When was KarmaLife founded?
KarmaLife was founded in 2020.
Where is KarmaLife located?
KarmaLife is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Who is the current CEO of KarmaLife?
Rohit Kumar Rathi is the current CEO of KarmaLife. They have also founded this company.
Is KarmaLife a funded company?
KarmaLife is a funded company, having raised a total of $9.02M across 6 funding rounds to date. The company's 1st funding round was a Seed of $916.07K, raised on Jun 16, 2020.
What is the annual revenue of KarmaLife?
Annual revenue of KarmaLife is $829.74K as on Mar 31, 2024.
What does KarmaLife do?
KarmaLife was founded in 2020 in Bengaluru, India, within the fintech sector. Subscription-based payday loans are extended to blue-collar workers via a digital platform that integrates credit, payments, and insurance for daily cash flow management. A UPI-linked credit system is channeled through employers and aggregators, where work histories are captured to facilitate instant recurring loans and payout advances, with funds directed toward productive uses.
Who are the top competitors of KarmaLife?
KarmaLife's top competitors include Flex Salary, Vrddi and OptaCredit.
What products or services does KarmaLife offer?
KarmaLife offers Earned Wage Access, Line of Credit, and Personal Loan.
Who are KarmaLife's investors?
KarmaLife has 45 investors. Key investors include Angel List, Wellfound, LetsVenture, Artha Venture Fund, and BFA Global.
What is KarmaLife's valuation?
The valuation of KarmaLife is $31.13M as of Mar 2023.