Kaarvan Services, which is a Bangalore based startup, which runs a leading online platform called as Kaarva for the salaried individuals, has now secured an undisclosed amount in the funding round from the angel network led Angels, Venture capital firm Better Capital and a clutch of Indian entrepreneurs. The stage of the investment was not disclosed as of now.
Some other investors in the round include the mobile marketing platform InMobi co-founders Naveen Tewari, and Piyush Shah, the Mobility Tech startup Yulu CEO Amit Gupta, and others.
The capital secured in this round will be allocated to deepen technology, expand the team and get Kaarva’s sales team in the functioning and place, said the announcement.
“We have this 30-day salary cycle that holds back people’s pay. People put in the hours but money is not accessible to them when required to lead their day-to-day life better, reduce stress, and make better decisions. We simply just provide that earned salary access as a right to the employees. It acts as a safety net in emergencies and gives peace of mind.” Khushboo Maheshwari, co-founder of Kaarva said.
“On-demand services and instant gratification is the new mantra for millennials. Based on this Kaarva has created an interesting product for the salaried class. Our investor members were impressed by the ease and speed with which the company’s solution can be deployed across organizations and we see a tremendous opportunity ahead as the company scales up its reach,” Sushanto Mitra, CEO at Lead Angels Network said.