Tartan, fintech enabler, has raised $4.5 million in pre-Series A funding round from 500 Global, InfoEdge Ventures, Naval Ravikant-backed AngelList Quant Fund, WorldQuant Ventures, Varanium GenNext Fund, 9Unicorns, Yatra Angel Network, Emphasis Ventures and Naveen Kukreja. The fund raised will be used to scale the company's go-to-market operations, expand its in-house engineering team and further enhance its product offering.
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"With this latest round so closely following our Seed financing, we are more focused than ever on our social purpose-driven mission, which is to open up access to financial services and products for millions of people who are part of the workforce in India and globally, so they are financially healthy and can lead a happier life," said Pramey Jain, CEO and co-founder of Tartan.
Tartan has scaled its data connectivity coverage to more than 20 million white-collared employees and gig workers in India. Since its inception, API requests have grown about 20 times to 150,000 per month. Currently, the company works with more than 80 customers and partners and also plans to double its headcount to 110 people, with a particular emphasis on engineering roles, to continue to support the build of innovative financial products like earned wage access and expand into new areas such as tax filing, claimed by the company in a statement.
"Tartan aims to impact everyone who receives a salary or work fee. Such an immense opportunity, coupled with the company's mission to build a larger data and distribution platform, uniquely positions Tartan to reshape the financial lives of today's workforce in a positive way," said Christine Tsai, CEO and founding partner at 500 Global.
Tartan provides a data-to-distribution platform that seamlessly enables the movement of payroll data and products for today's workforce. Its data-powered employee benefits marketplace allows employers and HRMS platforms to build and distribute innovative products which are much needed by workers today.