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Leading FinTech Venture ‘EarlySalary’ Crosses INR 550 Crore Loan Disbursal

  • (From(From L to R): Ashish Goyal, Co-Founder & CFO and Akshay Mehrotra, the Co-Founder & CEO


EarlySalary has gone on to become India’s largest consumer lending application by crossing the INR 550 Crores disbursal mark. The large demand for the products that the start-up offers, helped achieve this milestone. EarlySalary has provided over Rs. 550 Crores in financial assistance to over 135,000 Unique Customers and disbursed cumulatively 350,000 loans which has made them the first line of credit for young working Indians. Also, it is now disbursing Rs.80 Crores a month. The platform processes 60,000+ loan applications every month and disburses 35,000+ loans with a small team of just 150 people.

24 – 30 year olds are the largest user base of the application.

55% of the customers work for the top 200 corporates in the country and nearly half of them are at their first jobs.

Customers with a monthly salary of above Rs.18,000 can apply for a loan.

Product portfolio includes 7 to 51 days bullet loan product wherein nearly 40% of the customer base has now been offered 3 months to 12 months EMI loans on repeat loans.

Shopping Limit at No Cost EMI on Flipkart, Amazon & Big Bazaar is the second most used product feature with over 4K transactions per month.


In the current market, a very small percentage of users have access to instant credit, EarlySalary is helping to bridge that gap which is why the mobile application generated over 7 million downloads and helps build more affordable credit and financial inclusion to young underserved working professionals in the country.
Elaborating on this announcement, Akshay Mehrotra, Co – Founder and CEO, EarlySalary said, “We are a customer focus organisation and our mission is to provide financial assistance to the underserved classes. Today, our Machine Learning Algorithms have evolved to the next level and help us cater in real-time to many more customers than what we had initially anticipated. We are happy that we have crossed loans disbursals of Rs.550Cr in such a short span and believe that in the next 18 months we can disburse 10x of this and cross a billion dollar worth disbursal.”
Adding to the announcement, Ashish Goyal, Co-Founder & CFO, EarlySalary said, “Consumer lending is fuelled by an immense rise in the young working population, our ability to lend to young first time customers helps create a strong niche yet provides a large underserved market potential, giving EarlySalary a unique opportunity. We are extremely proud that we have disbursed over 350,000 loans in such a short duration.”
The mobile first application has a presence in 17 cities across the country. The EarlySalary 2.0 Mobile Application has also recently been introduced to provide simpler interface to accommodate complex product needs of the customers in a simple and elegant way which include customer service requests, limit management, self – serving platform, chatbot etc.
Users can currently avail loans of up to Rs 2 lakhs; a line of credit ranging from 50 days to 2 years and interest-free EMIs for shopping. Early Salary’s unique social media based underwriting system and machine learning platform allows even a person who is New to Credit (NTC) or a Customer without Credit Bureau scores to borrow.

Founded by Akshay Mehrotra and Ashish Goyal, EarlySalary is a mobile app which allows salaried individuals to avail of financial assistance. The company offers banquet of products tailor to need of young India including salary advances, instant loans, interest free EMI options and a line of credit to shop. The company conducts prudent risk assessment by leveraging machine learning to go beyond financial underwriting.
EarlySalary earlier this year raised INR 100 crores in January 2018 from Eight Roads (Fidelity) Ventures & existing investors, Chiratae Ventures (IDG Ventures India) & DHFL. With more than 7 Million Downloads and loans worth Rs.550Cr already being disbursed, EarlySalary is helping customers borrow within minutes. EarlySalary has fast become the 1st line of credit for young working professionals in India.
Key Features:

  • Instant access to funds in less than 10 minutes
  • High Automation: 73% loans are Machine Approved & instantly disbursed
  • Loans of values ranging from Rs. 5,000 to Rs. 2 Lac cash can be accessed for a tenor of 50 days to 2 years.
  • Shop now and pay later – ability to use the loan limit to shop online on credit on Amazon, Flipkart & Big Bazaar.
  • FeES: education loans to pay for your child’s school fees & education needs or pay for a skill upgradation course.

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