A $4.5 million fundraising round has been completed by Indian payroll and labor management company Tartan, which wants to utilize the funds to increase its go-to-market operations, grow its internal engineering team, double its personnel to 110, and improve its product offerings.
According to the publication, Tartan has attracted over $6 million in venture capital since its creation in June 2021. The business makes a white-labeled application programming interface (API) suite available to financial institutions (FIs) so that they may access client payroll data and confirm their earnings and employment status.
“With this second round closely following our original investment,” says Pramey Jain, founder, and CEO of Tartan, “we’re more focused on our social purpose-driven mission to open up access to financial services and products for millions of people in the workforce.”
Most recently, Tartan introduced Batik, a marketplace for employee benefits for business owners and developers of HR software. According to the paper, the project provides financial advantages such as earned wage access (EWA), salary-linked loans, control over credit card limits, and emergency money.
According to the article, 500 Global (formerly 500 Startups), InfoEdge Ventures, and the Quant Fund, which is supported by Naval Ravikant, were among the investors that led the most recent investment round. WorldQuant Ventures, Varanium GenNext Fund, 9Unicorns, Yatra Angel Network, Emphasis Ventures (EMVC), and Paisabazaar Co-Founder Naveen Kukreja also took part in the event.
