SalarySe, a financial services application catering to salaried professionals, has successfully completed its seed funding round, raising Rs 43.71 crore (equivalent to $5.2 million). Surge Ventures, the early-stage venture capital arm of Peak XV Partners, led this investment, marking the Gurgaon-based company's inaugural fundraising endeavor. As per regulatory filings sourced from the Registrar of Companies (RoC), the board of SalarySe approved a special resolution to issue 6,563 Seed Compulsory Convertible Preference Shares at an issue price of Rs 66,608 per share to secure the mentioned investment amount.

Peak XV Partners' Surge led the investment with close to Rs 25 crore, while Pravega Ventures, through Vistra ITCL India, contributed Rs 18.7 crore. Furthermore, SalarySe sanctioned a separate resolution to establish an Employee Stock Option Pool (ESOP), allocating 1,875 equity shares valued at Rs 12.5 crore or $1.5 million. Founded by Saumeet Nanda, Mohit Gorisariya, and Piyush Bagaria, SalarySe specializes in crafting financial products tailored for salaried individuals. Positioned at the convergence of UPI, credit cards, and rewards, SalarySe faces potential competition from platforms like Postpe, Simpl, and Slice".

"The company has partnered with Yes Bank as its banking associate, while Sugamya Finance serves as its lending partner. According to startup intelligence platform TheKredible, SalarySe has been appraised at approximately Rs 123 crore or $15 million following its inaugural funding round. Following the allocation of the investment, Surge Ventures now holds a 20.34% stake in the company, while Pravega Ventures possesses 15.26%. The Co-Founders of SalarySe Mohit Gorisariya, Saumeet Nanda, and Piyush Bagaria have collectively reduced their ownership to 54%. For additional details, refer to TheKredible.