Fintech company Zaggle on Tuesday announced its partnership with lending platform EarlySalary to extend credit facility to about 5 million people working in 4,500 corporates in the company’s network.
Zaggle is a B2B2C company that provides expense management system and employee rewards and recognition program services to companies. With this partnership, the company aims to expand its product line by offering affordable and instant lending solutions to its existing clientele.
“This partnership comes at an opportune time which is in line with achieving our vision of becoming a Global Digital Bank. Zaggle has a rich and wide array of product offerings for corporates, enterprises and SME’s and we want to transcend beyond our prepaid card solutions. Collaborating with EarlySalary is one such step forward in enabling us to extend our product offerings to not just personal loans and the lending space, but to other financial products such as insurance, credit, wealth management that will take the company into newer growth areas,” said Raj N., founder and chairman, Zaggle.
More than 80% of Indian millennials are planning on acquiring personal loans for manifold reasons. “With the rapid adoption of digitization, the lending landscape in India has changed substantially, and thanks to the FinTech industry, India has seen a massive adoption in bringing flexibility and versatility to the younger audiences for lending,” Zaggle said in its official statement.
This partnership with Zaggle will overcome financial worries with special corporate benefits like medical loans, salary advances, easy repayment for a personal loan and will also reduce the stress of employees related to financial health and their productivity at the workplace and ensuring cash needs and productivity is elevated through our superior quality digital services. “We are constantly working towards bringing in innovative business solutions for a diverse set of corporate customers to make them an integral part of our strong network,” said Akshay Mehrotra, co-founder and CEO, EarlySalary.
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