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EarlySalary.com, a fintech start-up that offers quick, short-term loans, has started its operations in Hyderabad. The start-up, which already has operations in Pune, Bengaluru, Chennai, Mumbai and Delhi, claims to have 1.95 lakh downloands on Android and iOS app stores.
The firm offers loans in the range of ₹10,000-₹1 lakh for a tenure of 7-30 days. “It is targeted at young working professionals who run out of salary during the month end,” said Akshay Mehrotra, co-founder and Chief Executive Officer, EarlySalary.com.
Using technology, the firm quickly captures and analyses the data that it picks from social media and credit bureau reports, taking a call in a few minutres. “Users can get instant fund transfer to their bank account and can use it as per their requirement,” he said in a statement here on Wednesday.
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