July 21, 2024

India’s First NBFC to Provide Payroll Financing in Four Major Metro Cities  

2 min read

Mr. Harit Sindhu, Managing Director of the company

New Delhi (India), March 13: 1 Click Capital, India’s first fintech to deal in payroll financing, has now spread its wings across all 4 major metropolitan cities in India: Mumbai, Delhi NCR, Bangalore, and Pune. Starting with its base in Mumbai, it slowly gained major clients in other big cities in the country.

Founded by Mr. Harit Sindhu, 1 Click Capital became the first NBFC in the lending sector to provide unsecured payroll financing in a country where the lending market is a whopping Rs. 1 lakh crore. The idea for 1 Click Capital came from a desire to shake up the financial sector by rethinking the conventional wisdom surrounding payroll financing in the country.

What is Payroll Financing?

Payroll finance is an innovative product that helps businesses with a line of credit fulfil their payroll

obligations. It is a type of lending service through which businesses can get capital in order to pay their employees’ salaries on time each time.

1 Click Payroll Financing came at the perfect time when the country was still dealing with the aftermath of a pandemic at the start of 2022. The need for employers to pay timely salaries to their employees was at an all-time high as cash flow was extremely unstable. Many established companies and new startups were struggling to process payrolls on time. Many companies went out of business because they couldn’t afford to keep paying their employees, and many others had to lay off staff.

Payroll financing was the answer to stabilizing cash flow while running timely payrolls. Companies from all major cities have experienced a quick turnaround when approached for payroll financing, as 1 Click Capital claims a 48-hour turnaround for disbursals. Their policy includes zero registration fees and a low return on investment. 1 Click Capitals boasts of being a 360-degree digital service where clients, no matter where they are in the country, can get an unsecured payroll loan online without ever having to visit the office physically. All the processes are done digitally in a secure manner. Many clients like the fact that they had to put in minimal documentation, unlike other traditional loans.

Companies that have benefited from 1 Click Payroll Financing have noticed a change in employee morale as they are now able to pay their employees on time, in turn increasing their productivity. This has also led to employee retention, where once tensions were high as employee attrition was a common problem.

Harit Sindhu feels proud of launching a company that not only breaks new ground but also plays a part in helping companies retain their employees and succeed in their journeys. 1 Click Capital aims to cover more cities in the coming future, eventually going global.

To know more about 1 Click Capital, please visit: www.1clickcapital.com

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