The initiative connects employees with lenders through employer-backed financing, offering easier access to personal loans.
Former BharatPe co-founder Ashneer Grover has launched Fund My Staff, a lending platform that enables employers to act as guarantors for employees seeking personal loans.
Announcing the launch on LinkedIn on 23 July, Grover said the platform is designed to improve access to credit for employees, particularly those with limited or no credit history.
Fund My Staff connects employers, employees, and RBI-regulated lenders through a digital platform that facilitates employer-backed financing.
How Fund My Staff Works
The platform allows employers to onboard their workforce, set borrowing limits for individual employees, and review loan requests before agreeing to act as guarantors.
Employees can also initiate the process by submitting a loan request to their employer through the platform.
Once approved, the loan is disbursed directly to the employee, who repays it through equated monthly instalments (EMIs) over the selected tenure.
According to the company, employer backing can help employees who may otherwise struggle to access formal credit because of a limited credit history.
RBI-Regulated Lending Model
Fund My Staff said it operates as a Lending Service Provider (LSP) under the Reserve Bank of India’s digital lending guidelines.
The company said all loans are originated and sanctioned by RBI-registered lending partners, with the platform facilitating the application and approval process.
Its lending partner is Ash Grove Capital Private Limited, an RBI-registered non-banking financial company (NBFC), which also lists Fund My Staff among its digital lending platforms.
Operated by Third Unicorn
Fund My Staff is operated by Third Unicorn Private Limited, a New Delhi-based startup founded by Ashneer Grover, Madhuri Jain Grover, and Aseem Ghavri.
The company also operates ZeroPe, a healthcare financing platform that allows users to pay hospital bills through monthly instalments.
With Fund My Staff, Third Unicorn is expanding into employer-supported financial services, targeting a segment of employees who often face difficulties obtaining unsecured loans through traditional banking channels.
Ashneer Grover Photograph: (Image Source – Ashneer Grover/Instagram)
