<ul data-eligibleForWebStory="true"><li>Fintech startup Refyne, offering on-demand salary access, secures INR 35 Cr debt from Stride Ventures.</li><li>Refyne to issue 3,500 Series A debentures at INR 1 Lakh each according to MCA filing.</li><li>The capital will be used for working capital and general corporate purposes.</li><li>Refyne allows employees to access earned salaries on-demand through its platform.</li><li>The startup caters to over 1 Cr employees from 500+ companies in India.</li><li>Refyne charges a convenience fee when employees withdraw funds and offers loans with interest.</li><li>It secured $82 Mn in Series B funding led by Tiger Global and has raised over $100 Mn to date.</li><li>Refyne competes with multiple players in the EWA and lending tech space in India.</li><li>The company reported a 27% decrease in net loss in FY24 and revenue surged by 59%.</li><li>The lending tech market in India is booming with a projected $2.1 Tn market opportunity by 2030.</li><li>Startups like CRED and Fibe have recently raised significant funds in the lending space.</li></ul>

Exclusive: On-Demand Salary Startup Refyne Bags INR 35 Cr Debt

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