Gig workers need access to short-cycle credit to meet an uncertain cash need among them payment cycle. This partnership will enable the delivery executives of LoadShare to have easy and affordable access to funds through work life The app, empowers them to manage their financial liquidity and also start building their credit history.
“Through this partnership, we are expanding our solutions to logistics workers on weekly, bi-weekly and monthly payment cycles. Rohit Rathi, Co-Founder and CEO, Karmalife, said, “We are leveraging our accelerated deployment cycle, value creation for the logistics segment and automated operational flows.
This partnership is in line with LoadShare’s mission of creating one million new jobs in the logistics ecosystem.
“We believe that employer participation is the biggest enabler to channel sustainable finance for gig workers. Early access to earnings and long-term credit helps stabilize a gig worker’s financial health, which in turn boosts productivity and retention, said Rakib Ahmed, co-founder of LoadShare.
Karmalife partnered with employers/platforms to provide earned pay and credit solutions to its gig workers based on their work history and other digital data.
The firm works with leading digital gig platforms in areas such as ride-sharing, food-tech, e-commerce, logistics, flexi-staffing and others.
Loadshare offers a wide range of solutions in intracity (e-commerce, food, quick commerce, grocery), intercity (PTL and FTL) and warehousing. The company’s current scale is 2 lakh intracity shipments per day, 5,000 intercity trips per month and 1 million sq ft of warehousing space, with plans to expand five-fold over the next two years.