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
Not available
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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.
Early access to accrued earnings for gig workers
Flexible credit options for immediate financial needs
Small loans with easy digital approval for workers
People of KarmaLife
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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.
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.
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Venture capital investments in Indian startups across various sectors.
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Sector-agnostic incubation services are provided to startups across industries.
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Venture capital firm focused on multiple sectors
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Investor details for KarmaLife
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Investments & Acquisitions by KarmaLife
Investment portfolio details for KarmaLife
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Financial Statements - KarmaLife
Detailed financials for KarmaLife
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Karmalife Comparisons
Peer comparison for KarmaLife
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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.
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Offers a line of credit secured against monthly salaries.
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Mobile-based lending and financial services are offered to blue-collar workers.
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Operates an online platform providing payday loans tailored for salaried employees.
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Offers an app-based platform for payroll loans to users.
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A tech-enabled solution for employee financial wellness in organizations.
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Detailed competitors of KarmaLife
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Latest news on Karmalife
Complete news archive for KarmaLife
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Frequently Asked Questions about KarmaLife
KarmaLife was founded in 2020.
KarmaLife is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Rohit Kumar Rathi is the current CEO of KarmaLife. They have also founded this company.
KarmaLife is a funded company, having raised a total of $9.02M across 6 funding rounds to date.
Annual revenue of KarmaLife is $829.74K as on Mar 31, 2024.
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.
KarmaLife's top competitors include Flex Salary, Vrddi and OptaCredit.
KarmaLife offers Earned Wage Access, Line of Credit, and Personal Loan.
KarmaLife has 45 investors. Key investors include Angel List, Wellfound, LetsVenture, Artha Venture Fund, and BFA Global.
The valuation of KarmaLife is $31.13M as of Mar 2023.