Arthum, a workforce management startup building a unified operating system for the contract labor market, has raised ₹10 crore (approx. $1.09 million) in a seed funding round. The investment was led by Caret Capital, with participation from Keynote Financial Services Limited and JS Global.
The capital infusion will be used to enhance Arthum’s technology stack, deepen its financial product ecosystem, and expand operations into major industrial clusters including Dehradun, Chandigarh, Ludhiana, Jaipur, and Ahmedabad.
Digitizing the “Invisible” Workforce
Founded in 2023 by Darpan Sharma and Vishal Mishra, Arthum emerged as a solution to the fragmented and manual nature of contract labor management in India. The platform acts as a digital bridge connecting three critical stakeholders: Enterprises, Labor Contractors, and Workers.
The platform offers a robust ERP-style suite that includes:
Geo-tagged Attendance: Eliminating proxy attendance and ensuring real-time site visibility.
Automated Payroll & Compliance: Streamlining statutory requirements and ensuring workers are paid on time.
Digital Identity: Creating a verifiable work history for millions of individuals who previously lacked formal employment records.
The Neo-Banking Layer: Financial Inclusion at Scale
Beyond management tools, Arthum is leveraging its data to act as a Neo-bank for the blue-collar segment. By using verified attendance and payout data, the platform creates a “digital credit identity” for workers, allowing them access to:
Instant Credit & Loans: Partnered with 15+ NBFCs including Ugro Capital, Bajaj, and BlackSoil.
Insurance & Savings: Tailored micro-insurance and investment products.
Formal Banking: Seamless integration with giants like Yes Bank, ICICI Bank, and IDFC.
Currently, Arthum has already onboarded over 6 lakh workers and automates operations for 3 lakh labor contractors, primarily in the Delhi NCR region.
“This investment will help us unlock deeper financial inclusion through data-led credit and banking innovation. We are turning informal work records into digital assets that empower workers to join the formal economy,” said Darpan Sharma, Co-founder & CEO.
By: Vanshika Tayal
