Scaling New Heights: The Impact of KarmaLife on Gig Workers

KarmaLife, the innovative financial solutions provider for gig and blue-collar workers, looks back on a successful 2022 with impressive milestones achieved.

As we look back on the past year, we at KarmaLife are proud to say that we have accomplished some impressive milestones. Our innovative solutions are designed to provide gig and blue-collar workers with financial services like liquidity-on-tap services based on their work data. Our platform has made a significant impact in the gig economy, and we’re excited to share some of our highlights with you.

Scaling New Heights: Our users on the platform utilized funds equivalent to buying 800gm packs of Parle G biscuits, enough to scale 130 Mount Everests! This illustrates the scale of our platform and the impact it has had on gig workers’ financial needs.

A Large Potential Customer Base: Our potential customer base is so large that it could fill India’s largest stadium, the Narendra Modi Stadium, 15 times over. This showcases the vast need for financial services in the gig economy and the potential for us to make a difference.

High Activation Rate: We’re proud to say that our activation rate is as high as David Warner’s strike rate in Test matches! This highlights the user-friendliness of our platform and the satisfaction of our customers.

Keeping HR Departments Happy: Our product is so effective that it will stop 1 out of every 4 users who leave their workplace today. This has a significant impact on employee retention and is a major win for HR departments.

Efficient Processes: Our processes are so efficient that a user can complete their KYC before their 2-minute Maggi is ready! This exemplifies the ease of use and speed of our platform.

Impact of Funds Utilization: All our users put together have utilized more funds in 2022 than the value of an IPL team! This illustrates the potential of our platform and the impact it has had on gig workers’ financial needs.

Biryani Delivery App Metaphor: And if we were a Biryani delivery app, we would have sold 11 biryanis per minute in 2022! This is a lighthearted comparison to demonstrate the scale of our platform and the impact it has had on the gig economy.

We are grateful to our NBFCs, gig economy employers, tech talent, policy makers, and SMEs who have supported us throughout the year. We are excited to continue our mission of providing digital karma and financial services to gig workers in the coming year and make an even greater impact in the gig economy.

At KarmaLife, we’re not just creating a product, we’re creating a movement. We’re on a mission to empower gig workers, and give them the financial freedom they deserve. And we’re just getting started. Thank you for joining us on this journey.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like
earned wage access
Read More

Why Earned Wage Access Matters

Ensuring your employees' financial stability through Earned Wage Access (EWA) is paramount, especially amidst rising costs and shifting job tenures. EWA empowers employees by granting them control over their earnings, mitigating financial stress and bolstering their commitment and productivity at work, proving invaluable in fostering a stable and engaged workforce for your company's success.
Read More

Empathy to Empowerment : KarmaLife & SIDBI’s Groundbreaking Partnership

Discover how KarmaLife's innovative partnership with SIDBI is transforming the landscape of financial access for India's gig workers. This groundbreaking initiative leverages our advanced technology platform to provide hassle-free micro loans, empowering gig workers as entrepreneurs of their own nano-businesses. Join us in embracing a future where every gig worker has the tools to succeed financially.