Ashneer Grover Launches Employee-Focused Lending Platform Fund My Staff
Indian entrepreneur Ashneer Grover has launched a new fintech platform, Fund My Staff. The platform enables employers to act as guarantors for employees seeking small personal loans.
Ashneer Grover, co-founder of BharatPe, has launched a new fintech venture named Fund My Staff, designed to assist employees with limited or no credit history in securing small personal loans. The platform facilitates loan approvals by considering the employer's creditworthiness and financial standing, in addition to the employee's profile.
Fund My Staff allows employers to act as guarantors for their employees' loan applications. This approach aims to bridge the gap for individuals who struggle to obtain traditional loans from banks and digital lending platforms. The platform offers loan tenures ranging from three to 12 months with low annual interest rates, repaid through equated monthly installments (EMIs).
Loans facilitated through Fund My Staff will be provided by Ash Grove Capital Pvt Ltd, a non-banking financial company (NBFC) registered with the Reserve Bank of India. The venture operates under Third Unicorn, a company founded in 2023 by Ashneer and Madhuri Jain, which previously raised $5 million in funding.
This launch follows Grover's introduction of ZeroPe in April 2024, a healthcare financing platform enabling users to pay hospital bills via instant medical loans. Grover reported significant traction for ZeroPe, including over 100,000 organic downloads and partnerships with 1,000 healthcare providers.