EarlySalary eyes $100 million from TPG, Norwest

Digital lending fintech EarlySalary is in the process of closing a $100 million financing round led by private equity fund TPG and Norwest Venture Partners, multiple people told ET. The investment is expected to be officially announced in the next few days, they said.

EarlySalary’s latest funding comes amid the Reserve Bank of India’s (RBI’s) new guidelines on digital lending that puts the focus back on regulated entities, giving fintechs with an active NBFC (non-banking financial company) licence an advantage.