Tartan

Key Highlights:

  • Fintech startup Tartan has raised $4.5 Mn in its Pre-Series A round.
  • It offers a data API (Application Programming Interface) suite through which financial institutions can access their consumers’ payroll data with their consent to verify their income and employment status better.
  • The startup plans to focus on scaling its go-to-market operations, expanding its in-house engineering team and further enhancing its product offerings.

Fintech startup Tartan has raised $4.5 Mn in its Pre-Series A round. The funding round was led by 500 Global, InfoEdge Ventures, Naval Ravikant-backed AngelList Quant Fund, WorldQuant Ventures, Varanium GenNext Fund, 9Unicorns, Yatra Angel Network, Emphasis Ventures (EMVC) and Naveen Kukreja.

Tartan was founded in June 2021, It offers a data API (Application Programming Interface) suite through which financial institutions can access their consumers’ payroll data with their consent to verify their income and employment status better.

As of now, the startup said it had raised around $6 Mn.

With these recent findings, the startup plans to focus on scaling its go-to-market operations, expanding its in-house engineering team and further enhancing its product offerings.

With its API requests reaching 150,000 per month, Tartan claims to cover more than 20 million white-collar employees and gig workers in India.

Additionally, it tracks deductions, PF contributions, attendance, and performance of employees, as well as CTC breakdown and basic KYC details.

Additionally, Tartan has launched a marketplace for employee benefits called Batik in addition to its API suite. It is currently being used by HRMS software providers and employers to provide simplified employee benefits at a discounted rate. There are a variety of benefits available through the platform, including financial assistance, health care, and mental wellness programs.

The startup is working through Batik to assist fintech lenders and providers to develop products such as earned wage access (EWA), salary-linked loans, credit card limit management, and emergency funds, which are distributed directly to the workforce through employers.

The CEO and co-founder of Tartan, Pramey Jain said, “Since we launched our product last year, it has been adopted rapidly by more and more ambitious businesses seeking to create and launch their products for the workforce, which is one of the key pillars of the economy.”

In addition to expanding into new areas including tax filing, the startup plans to double its headcount to 110 people. Engineering roles will be emphasized in this expansion.

To get regular updates on funding new, visit Alphafirms.

 

 

 

 

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