Ashneer Grover is back in the fintech game. Shortly after rolling out his medical loan app, Zero pe, the former BharatPe boss has launched a new platform called Fund My Staff.
The idea behind this one is pretty straightforward. It’s an app that lets employers act as guarantors when their employees need small-ticket personal loans.
Fund My Staff is operating under Third Unicorn, the company Grover founded with his wife Madhuri Jain back inR 2023. This launch comes right after they shut down their previous venture, the fantasy cricket app Crick pe. It looks like Grover is dropping the gaming experiments and returning to what he actually knows best: lending and finance.
Getting a small loan can be tough for a regular employee, especially if they don’t have a perfect credit score or a high salary. Fund My Staff tries to solve this by bringing the employer into the mix. When a company backs its own worker, the credit risk goes way down. This means employees can get their hands on emergency cash much faster, without jumping through the usual banking hoops and endless paperwork.
The actual loan money won’t be handed out by Third Unicorn directly. Instead, all the loans will originate from Ash Grove Capital Pvt Ltd, which is a registered NBFC under the RBI.
It’s an interesting approach to workplace benefits. Instead of companies handing out salary advances directly from their own accounts, they can use this platform to vouch for their staff. Now we just have to wait and see how many companies are actually willing to step up and take on that guarantee for their employees.
Kanu priya
