Last deal

Amount

Non-equity Assistance

Stage

04.07.2023

Date

5

all rounds

$7.5M

Total amount

General

About Company
KarmaLifeAI is an AI-powered digital solution that provides financial well-being to blue-collar gig workers and micro-businesses.

Industry

Sector :

Subsector :

founded date

01.01.2020

Number of employees

Company Type

For Profit

Last funding type

Non-equity Assistance

IPO status

Private

Description

The company offers real-time access to credit for gig workers based on their payroll account, allowing them to pay for key expenditures and manage their consumption patterns. Through partnerships with digital platforms, KarmaLifeAI operates an interest-free subscription model, enabling gig workers to access credit up to one-third of their monthly income. By analyzing alternative data points and payment behavior, the company unlocks higher credit lines for workers. Their smartphone-linked credit-on-tap service is routed through aggregators and employers, providing users with funds to manage day-to-day cash flows and reducing reliance on rigid payout schedules and expensive external loans. With a focus on creating sustainable livelihood opportunities, KarmaLifeAI aims to support the well-being of gig workers and improve the gig economy as a whole.
Contacts