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Valyu.ai Rolls Out Advance Salary Service On Its Mobile App 

Valyu.ai Rolls Out Advance Salary Service On Its Mobile App 

Valyu.ai, a fintech startup has announced the launch of the Advance Salary Service on its mobile app, now available on Google Play. Employers can avail the Advance Salary Service for employees by registering with the Valyu.ai platform. NBFCs like Kudos Finance & Investments Pvt. Ltd. and Arthmate (Mamta Projects Pvt. Ltd.) have joined hands with the startup as financing partners. The startup has also tied up with leading HR technology company PeopleStrong as their channel partner.

 

Commenting on the launch, Gaurav Kumar, Founder and Chief Technology Officer (CTO), said, "Indian employees can be stressed by short term financial needs which arise due to medical expenses, repaying EMIs or loans, education fees or financial setbacks. This financial stress, in turn, affects employee morale, resulting in lower productivity, resulting in lowered GDP. We realised this wasn't an exaggeration, but a reality. We want to cater to these employees who require funds but in a safe and secure manner. These advances are taken in consent with the employer, thereby ensuring the default risks are low".

 

Valyu.ai provides employees with the opportunity to withdraw a percentage of their accrued earnings straight into their salary account as and when required. The Advance salary service offered by Valyu.ai will allow employees to better match costs across the month by spreading their pay. The service will further reduce financial stress on employees that may arise due to emergency or unplanned expense. These advances are given to the employees through secure channels, by NBFCs who have partnered with their organisation, without any cumbersome paperwork or delays. This, in turn, helps employees absorb a financial shock or an unexpected expense with easy repayment options.

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