Refyne’s Financials, Revenue, Profit, Valuation & Shareholding Overview (2025)

Refyne, co-founded by Apoorv Kumar and Chitresh Sharma, is India’s leading earned wage access (EWA) platform empowering employees to access their earned salaries anytime before payday. Founded in 2020, Refyne aims to improve financial wellness, reduce dependency on high-cost credit, and increase employee loyalty for partner organizations. The platform collaborates with various employers across industries, offering seamless integrations and a user-friendly app that promotes responsible financial behavior. With strong backing from global investors and continuous product innovation, Refyne is reshaping the payroll landscape and supporting financial inclusion at scale.

Refyne’s revenue surged from ₹10 Cr in FY22 to a projected ₹85 Cr in FY24, driven by employer partnerships and rising employee adoption. Losses narrowed from ₹30 Cr to ₹8 Cr, indicating improving operating leverage and strategic cost management.

Expenses increased to ₹93 Cr in FY24 as the company scaled operations, but revenue growth has outpaced expenses, leading to improved margins and a clearer path to profitability.

Employee count expanded from ~100 in FY22 to ~250 expected in FY24, supporting rapid expansion and continued investment in product and engineering capabilities.

• Expansion into Tier-2 and Tier-3 cities to reach broader workforce segments.
• Strengthening financial wellness product offerings beyond EWA.
• Enhancing partnerships with large enterprises and SMEs.
• No immediate IPO plans; prioritizing profitability and market leadership first.

Refyne has expanded employer partnerships, enhanced its app features, and is driving major awareness campaigns to promote earned wage access solutions across India, solidifying its leadership position in this space.

Refyne’s impressive revenue growth, strengthened by strategic partnerships and financial wellness focus, positions it as a market leader in the EWA space. With continuous product innovation and improving financial metrics, the company is set to further redefine payroll and benefits solutions in India. Make smarter business decisions with verified insights on companies and directors. Visit Affluense.ai to learn more.

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