Flexi Salary
Flexi Salary is an India-based fintech that provides employees of large enterprises with daily access to earned salary through a mobile Salary Wallet app. The service is funded by Flexi Salary and offered free to employers in India's top 1000 companies.
- Company typePrivate
- Founded2020
- HeadquartersHaryana, India
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Flexi Salary does
Flexi Salary, operated by NSquared Systems Pvt. Ltd., is an India-based fintech founded in 2020 that provides employees of large enterprises with daily access to their earned salary through a mobile application called the Salary Wallet. The platform automatically credits each employee's digital wallet with one day's worth of salary every morning, allowing unlimited withdrawals throughout the month, with the aggregate amount reconciled as a deduction from the employee's next monthly salary. The service is positioned exclusively for employees of India's top 1000 companies and is activated at the company level by HR managers via a simple website form, requiring no payroll system integration or changes to existing employer processes.
The core technology is a mobile-based daily salary credit mechanism in which Flexi Salary fronts daily salary payments to employees upfront and recovers the aggregate amount through the employer's monthly payroll cycle. The company operates a B2B2C distribution model with a freemium pricing structure — the service is offered at no cost to employers, with no setup fees, integration costs, or changes to existing payroll processes. The revenue generation mechanism is not explicitly disclosed in available sources, indicating the business may be subsidized through investor capital or rely on future monetization features. Distribution occurs through direct employee APK downloads and HR-led company activation, supported by minor go-to-market partnerships with Affinity Rules (AF) and Mufin, and a referenced technology relationship with Microsoft.
The company maintains its headquarters in Gurugram, Haryana (11-50 employees), and has recorded a single funding round dated 2021-09-28 with Goodwater Capital and ICE.vc at a disclosed $0 amount. Public disclosures on revenue, material funding, management team, regulatory compliance, certifications, and named enterprise customers remain sparse — only three individual employee testimonials are publicly named, and customer logos on the website are unlabeled. Self-claims of being the "world's first Salary Wallet" position Flexi Salary as a first-mover in the daily earned-wage-access category in India.
Flexi Salary firmographics
Firmographics- Name
- Flexi Salary
- Legal name
- NSquared Systems Pvt. Ltd.
- Website
- https://flexisalary.co.in
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Flexi Salary is an India-based fintech that provides employees of large enterprises with daily access to earned salary through a mobile Salary Wallet app. The service is funded by Flexi Salary and offered free to employers in India's top 1000 companies.
- Ownership category
- akta.pro rank
Flexi Salary industry classification
Industry- Product category
- Earned Wage Access
- NAICS
- Payroll Services (541214)
- akta.pro primary industry
- Embedded Payroll, Earned Wage Access & Benefits Finance (FSAGALAI)
- akta.pro secondary industries
- Employer-Sponsored / Payroll-Linked Personal Loans (Unsecured Installment) (FSAKAAAM), Employer Payroll Processing (SMB & Enterprise) (FSAMAKAA)
Keywords
Where Flexi Salary is headquartered
LocationHeadquarters
- HQ city
- Haryana
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Flexi Salary business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Technology or R&D, Personnel, Marketing or Sales
Revenue model
- Employer-funded salary advance service: The service is provided free of charge to employers. Flexi Salary funds daily salary payments to employees and recovers the amount through salary deduction in the next cycle. Revenue generation mechanism is not explicitly disclosed but appears to be subsidized or funded through alternative means.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Free employer plan with full employee access |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels2 records
Flexi Salary product offering
Product offeringCore offering
Flexi Salary provides a mobile-based Salary Wallet platform that automatically credits employees with their daily earned salary each workday, allowing unlimited withdrawals any time during the month with repayment deducted from the next monthly salary. The service is offered free of charge to employers of India's top 1000 companies with no setup costs, integrations, or changes to existing payroll processes, while Flexi Salary funds the daily salary payments upfront.
Product overview
Flexi Salary offers a single unified product called the Salary Wallet — a daily salary access platform that allows employees to receive and withdraw their earned salary on a daily basis rather than waiting for traditional monthly paydays. The Salary Wallet is provided free of charge to employees of partner companies, with no setup costs or system integration required from employers.
Differentiator
Problem solved
Functional benefit
Products and services
- Salary Wallet A mobile-based digital wallet that automatically credits employees with their daily earned salary each workday, allowing unlimited withdrawals anytime during the month with withdrawn amounts deducted from the employee's next monthly salary. Provided free of charge to employees of partner employers in India's top 1000 companies.
Companies that use Flexi Salary
Customer profileNamed customers3 records
Segments2 records
Ideal customer profiles2 records
Flexi Salary technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Flexi Salary partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor.
- Affinity Rules (AF)minorLogo displayed in Flexi Salary Partners section, indicating a marketing or go-to-market partnership relationship.
- MufinminorLogo displayed in Flexi Salary Partners section, indicating a marketing or go-to-market partnership relationship.
Scale indicators1 record
Recent moves5 records
Expansion highlights4 records
Flexi Salary competitors and assessment
Company assessmentRegional players
- XpressSalary: India-based EWA and earned-wage platform for salaried employees. Directly competes with Flexi Salary in the same geography on a near-identical daily-pay product.
Emerging players
- SalarySe: India-based EWA platform focused on underserved and unbanked employees via employer partnerships. Competes with Flexi Salary in the India on-demand pay space with a financial inclusion angle.
Direct peers
- ZayZoon: Canada-headquartered EWA provider serving SMB employers with payroll-integrated wage advances. Comparable in serving employees via employer activation and offering early access to earned wages.
- Payactiv: US EWA and financial wellness platform integrated with employers, allowing earned wage access via mobile app. Comparable B2B2C employer activation model and Salary Wallet-style daily liquidity.
- DailyPay: US-based Earned Wage Access leader offering employees on-demand access to earned wages before payday. Directly comparable to Flexi Salary's Salary Wallet concept; both fund short-term advances against future payroll.
- Refyne: India-based EWA platform providing early salary access to blue- and white-collar employees. Direct India competitor with the same salary-advance-on-mobile proposition Flexi Salary targets.
- Earnin: US EWA platform that lets workers access earned wages before payday with no mandatory fees. Same core mechanic as Flexi Salary — pay-cycle bridging via a mobile wallet — and the closest US reference point for the Salary Wallet proposition.
- Even (Walmart-owned): EWA app now owned by Walmart, providing same-day-to-daily pay flexibility to Walmart and partner employees. Comparable in employee-centric design and daily-wage mechanism.
Broad incumbents
- Razorpay: India fintech incumbent providing payment rails, payroll, and lending products to businesses. Could credibly expand into EWA/embedded payroll, adjacent to Flexi Salary's category.
- Niyo Solutions: India-based digital banking and salary-account fintech targeting employee benefits for enterprises. Comparable in employer-led distribution and employee financial product bundling adjacent to Flexi Salary's Salary Wallet.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Flexi Salary social profiles
Digital presenceFlexi Salary financial estimates
Financial estimateRevenue estimate
Valuation estimate
Flexi Salary leadership team
Management profileNumber of profiles
Flexi Salary funding detail
Funding detailFunding overview
Funding rounds1 record
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Flexi Salary M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Flexi Salary
What does Flexi Salary do?
Flexi Salary provides a mobile-based Salary Wallet platform that automatically credits employees with their daily earned salary each workday, allowing unlimited withdrawals any time during the month with repayment deducted from the next monthly salary. The service is offered free of charge to employers of India's top 1000 companies with no setup costs, integrations, or changes to existing payroll processes, while Flexi Salary funds the daily salary payments upfront.
Is Flexi Salary a public or private company?
Flexi Salary is a private company. It is classified as venture growth investor backed and is currently operating.
When was Flexi Salary founded?
Flexi Salary was founded in 2020. It employs 11 to 50 people.
Where is Flexi Salary based?
Flexi Salary is headquartered in Haryana, India, in the Asia region.
How does Flexi Salary make money?
One revenue line is on record: employer-funded salary advance service.
Who are Flexi Salary's main competitors?
XpressSalary is listed as a regional player. SalarySe is listed as an emerging player. Direct peers are ZayZoon, Payactiv, DailyPay, Refyne, Earnin and Even (Walmart-owned). Broad incumbents are Razorpay and Niyo Solutions.
Does Flexi Salary have an API?
No public API is recorded for Flexi Salary.
What industry is Flexi Salary in?
Flexi Salary's product category is Earned Wage Access. Its primary akta.pro industry code is FSAGALAI, Embedded Payroll, Earned Wage Access & Benefits Finance, with a secondary code of FSAKAAAM, Employer-Sponsored / Payroll-Linked Personal Loans (Unsecured Installment). Its NAICS code is 541214.