EarlySalary in talks to raise $110 million in TPG-led funding: Report

Indian digital lending startup EarlySalary is in talks to raise $110 million in a round led by private equity firm TPG, a source with direct knowledge of the matter told Reuters.

Norwest Venture Partners will also come in as a new investor in the deal, which involves some existing investors paring stakes, according to the source, who did not wish to be named as the talks are private.

EarlySalary, which competes with LoanTap and PaySense, offers personal loans of up to 500,000 rupees (about $6,319) for short tenures through its mobile app and tie-ups with companies.