KarmaLife, real time credit solutions provider of gig workers has announced the appointment of Shishir Modi as its Chief Growth Officer. Shishir will drive Employer partnerships and user growth for Karmalife.
Prior to this, as the Cofounder and Chief Business Officer of Niki.ai, he has been instrumental in leading the company to partner with 200+ brands and scaled B2B2C distribution across banks, NBFCs, FMCG brands among others. He later saw expansion of Niki.ai in over 160 towns across new business verticals such as e-grocery. A graduate from IIT Kharagpur, he has been awarded the Young Alumni Achiever Award by IIT KHARAGPUR and is part of Forbes 30 under 30.
“While financial services in India are ripe for disruption, there are still no Fintech start-ups that have solved the problem of financial liquidity for the Gig Workers. KarmaLife’s team understands the segment well and has a strong product-market fit. I am excited to be a part of this journey and strongly believe in KarmaLife’s mission to empower the segment with sustainable financial products. I look forward to building with 100x velocity and accelerating the business to enable 15 million Gig Workers of India in the next couple of years,” said Shishir Modi, Chief Growth Officer.
Founded by Rohit Rathi, Naveen Budda, and Badal Malick, today KarmaLife has access to over 1,30,000 gig workers through its employer partners. It works with major digital gig platforms across segments like ride-sharing, food-tech, e-commerce, logistics, flexi-staffing and others to offer financial solutions to Gig workers to better manage their day-to-day cash flows and become more financially resilient.
Welcoming Shishir to the team, Rohit Rathi, Cofounder & CEO KarmaLife said, “Shishir comes with an operating experience of 7+ years having built startups from ground up. He brings in a unique combination of product understanding and customer need, and exceptional execution capabilities to drive large scale implementation with partners. This coupled with KarmaLife’s proprietary technology platform will be a game-changer in providing sustainable and appropriate financial solutions for gig workers. I am excited to work with him and learn from his vast experience.”
KarmaLife is creating an ecosystem that brings together Financial Institutions, Employers, and Gig workers, to drive a new and transformative business model. They are already seeing ~85% repeat rates with existing products such as Earned Wage Access and drynamic line of credit. KarmaLife plans to scale its business by partnering with 150+ new employers and will be launching new financial products such as liquid savings and micro-insurance customized for this segment.
