Arkam Ventures has made an investment in Qikwork Services Private Limited which owns and operates ‘Smartstaff’.
Smartstaff has raised $6.2 million as a part of its Series A funding round. Apart from Arkam Ventues, the funding round also witnessed participation from Nexus Venture Partners, Blume Ventures and Alteria Capital.
Argus Partners advised Arkam Ventures on this investment deal.
The transaction team consisted of Jitendra Soni (Partner) and Sadia Akhter (Associate).
The services offered by Smartstaff include payroll management, compliance, instant salary advance, loans, leave bonuses, live chat support, an emergency SOS feature and a dedicated helpline for female workers. Smartstaff intends to use the fresh capital to expand into new geographies away from its core south Indian markets, invest in strategic projects including entering new industries, and invest in upskilling.
If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.