EVIFY, a tech-braced electric vehicle logistics start-up, recently joined hands with a microfinancing fintech platform Fatakpay to provide credit facilities to its riders.

Through this partnership, the riders working on the EVIFY platform will have access to withdraw a certain fixed percentage of their accrued salary every month in advance to meet their fund requirements. The riders shall be charged a negligible amount as a service fee compared to the interest rates they end up paying the money lenders.

Fatakpay is a fintech platform providing virtual credit facilities to the masses. It also provides them with financial education and promotes saving habits through its various facilities and offers. It has a user-friendly mobile application linked to EVIFY’s rider application and they can avail of this service at the touch of a button. The company has reportedly made the onboarding simple enough, which makes it a smooth integration process for the company as well as the riders

"This association will help us to provide our riders easy access to credit facilities and, in the long run, help us to reduce the churn ratio in this sector," said Devrishi Arora, co-founder and chief executive officer (CEO), Evify.

Currently, EVIFY has over 200 riders who will benefit from this service. The company believes in creating a better working ecosystem for the gig-workers. The company also provides unlimited accidental insurance and medical covers on actuals to its riders to create financial security for them.