Ashneer Grover has launched Fund My Staff, a fintech platform that enables employers to facilitate loans for their employees by acting as guarantors, according to reports.
Key Highlights
- Ashneer Grover launched Fund My Staff, letting employers act as guarantors for employee loans.
- The platform operates as an RBI-registered Lending Service Provider, with loans sanctioned by regulated partners.
Ashneer Grover announced the launch in a LinkedIn post. The platform is designed for employers who want to help their workforce access credit, as well as for employees with limited or no credit history who require financing backed by their employer's guarantee.
How Fund My Staff Works
The platform allows employers to facilitate loans for their staff by setting the loan amount and acting as guarantors, while employees receive the funds and repay them through equated monthly instalments (EMIs). Importantly, employers do not provide the loan amount themselves — they back the loan by guaranteeing repayment.
Employees can request a loan directly from their employer through the platform. Once the employer approves the request and acts as a guarantor, the loan is disbursed to the employee, who then repays it via EMIs.
Employer Onboarding and Approval Process
According to the platform's website, employers can onboard employees by adding their details and setting an eligible loan amount. They can then review loan requests and approve them by acting as guarantors. Once approved, the loan is disbursed to the employee, who repays it through EMIs — creating a structured, employer-backed credit pathway for staff who might otherwise struggle to access formal financing.
Also Read: 60% of Indian Families Spend Nearly All Income on EMIs: Debt Survey
Regulatory Compliance and Structure
The platform states that it operates as a digital lending platform in compliance with the Reserve Bank of India Digital Lending Guidelines. It functions as a Lending Service Provider (LSP), while all loans are originated and sanctioned by RBI-registered lending partners — meaning Fund My Staff itself does not directly lend money but instead facilitates the connection between employers, employees, and regulated lenders.
