Karmalife

Based in Bangalore, India, and founded in 2020, OnionLife Private Limited doing business as KarmaLife aka KarmaLifeAI operates as a provider of a digital solution for the financial well-being of blue-collar gig workers and micro-business. The company was co-founded by Rohit Rathi (CEO), Naveen Budda (CTO), and Badal Malick (CBO). In June 2023, KarmaLife raised INR 440 million in pre-series A funding led by Som Tech, with participation from Artha Venture Fund, LogX Ventures, Netgraph Investment, and Singularity Ventures.   The company provides a subscription-based credit solution to gig workers and the blue-collar workforce through its mobile application, enabling them to meet their day-to-day financial needs in an affordable and flexible way.

The company’s main offering called Dhara is a credit-on-tap solution, designed to provide instant credit to the users based on their KarmaScore calculated by analyzing employer data as well as social, personal, and financial information. The firm also allows the users to pay at local merchants or bank transfers through its platform using their allocated credit limits and furthermore enables them to get benefitted from bundled services including telemedicine, insurance, and more. The company’s client base comprises gig workers across various platforms such as e-commerce, logistics, Flexi-staffing, food delivery, and ridesharing.