Entitled Solutions, an inclusion platform to make health and financial services accessible to urban low-income workers, has raised $1.3 million (about Rs 10.83 crore) in an extended seed round from SIS, a leading player in the security, facility management and cash logistics segment.
In the past three years, Entitled Solutions has enabled affordable financial and health access to about 700,000 low-income workers, including those in the new-age gig economy. The company works on a business-to-business-to-consumer model and integrates with employers and gig service platforms to enable services for the workers associated with them.
“While we have done a lot of work with digital-first low-income workers, there are large untapped segments in the traditional economy and those are the segments that we want to target next,” Entitled Solutions co-founder Anshul Khurana said in a statement. “With SIS’s large network of employees and experience in enabling livelihood for lakhs across the country, we would have a significant advantage as we push on to that journey.”
SIS Limited CEO Dhiraj Singh said, “Through this partnership with Entitled, we aim to ensure that our staff have access to new age financial and health services support. This strategic decision demonstrates our founder’s mentality, which is to look after the needs and aspirations of our employees which in turn reflects on service quality to customers. At the same time, it helps in attraction and retention of good quality staff thereby ensuring the long-term success of our organisation.”
The funds will primarily be used to support product development, including the creation of new credit products such as two-wheeler loans and consumption loans as well as scale up platform partnerships to expand reach to more than two million workers in the next few months.
Entitled Solutions has previously raised funds from HDFC Capital, LetsVenture and Sotheby’s, and seasoned angels like Nipun Sahni (partner, Apollo Global Management). Founded in 2020, the company has evolved from a purely financial services play to a broader ecosystem that enables access to financial, health and government schemes.
“We will continue to expand the breadth of our products and create a comprehensive ecosystem for the well-being of low-income workers in urban India,” said Khurana.
