tartan: Payroll management startup Tartan is raising $4.5 million in funding from 500 Global and others.

Startup Payroll and Human Resources tartan on Monday said it had raised $4.5 million in funding from 500 Global (previously 500 Startups), InfoEdge Ventures, Quant Foundation, backed by Naval Ravikant.

Other investors included WorldQuant Ventures, Varanium GenNext Fund, 9Unicorns, Yatra Angel Network, Emphasis Ventures (EMVC) and Paisabazaar co-founder Naveen Kukreja.

The firm will use the funds to scale its go-to-market operations, expand its in-house engineering team and expand its product portfolio, the company said in a statement released Monday. The company also plans to double its workforce to 110 people.

With this fundraising, the total funding raised by the company is approximately $6 million.

Tartan, founded in June 2021, provides financial institutions with a set of white-labeled application programming interfaces (APIs) to access their customers’ payroll data with their consent to verify income and employment status.

The company recently launched an employee benefits marketplace called Batik so that employers and HR software providers can offer financial benefits, including Earned Wage Access (EWA), payroll-linked loans, credit card limit management, and emergency funds. emergency situations.

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“As this latest round follows our seed funding, we are more focused on our social mission of bringing financial services and products to millions of people in the workforce,” said Prami Jain, Chief Executive Officer (CEO). ) and co-founder of Tartan.

Since its launch, Tartan claims to have expanded its data connectivity reach to over 20 million white-collar and gig workers in India. Since its inception, API requests have grown to 150,000 per month through its platform, he says.

“The Tartan API unlocks the power of income and employment data, driving the next wave of innovation in fintech ecosystem. Tartan seeks to influence everyone who receives a salary or pay for a job. This huge opportunity, combined with the company’s mission to build a larger data and distribution platform, places Tartan in a unique position,” said Christine Tsai, CEO and founding partner of 500 Global.

The company works with more than 80 clients and partners, including banks, fintech lending platforms, credit bureaus, insurance companies and recruitment agencies.

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