Jify

About Jify

Jify, a fintech company established in 2021, operates on a B2B2C model to enhance the financial wellness of the employed workforce in India. The company was founded by Anisha Dossa Aibara, Anusha Ramakrishnan, and Aditya Mehta. Dossa Aibara's background in social sector work, investment banking, and growth investing provided her with insights into the financial challenges faced by blue and grey-collar workers. Ramakrishnan brings experience in corporate sales and structuring from her time at Citibank and The Royal Bank of Scotland.

Jify's core service is providing employees of its partner companies with on-demand access to their earned salary at no cost to the employee. This earned wage access (EWA) platform is designed to offer a responsible alternative to high-interest payday loans, addressing the liquidity mismatch many employees face between paychecks. The company partners with corporations to integrate its solution, which can be done through automated HRMS integration, manual tools, or a hybrid model. For employers, Jify presents itself as a tool to improve employee retention, productivity, and overall financial well-being without impacting their own working capital or administrative burden.

The platform's business model involves partnering directly with companies to offer its services to their entire workforce, covering blue-collar, grey-collar, and white-collar employees. Revenue is generated through a transparent fee structure, although some sources state the service is zero-cost for employees. Beyond earned wage access, Jify's offerings have expanded to include a suite of financial wellness tools. These include the Jify Salary Card for spending and accessing salary advances, a money manager for budgeting and expense tracking, and tools to encourage savings, such as the ability to invest in digital gold. In September 2024, Jify was acquired by MoneyView, a move intended to expand its reach to over 10 million employees. Prior to the acquisition, Jify had raised a total of $11.4 million over two funding rounds, including a $10 million Series A round in August 2022 led by Accel and Nexus Venture Partners.