Financial technology to hire 500 new employees in next 18 months

Financial technology firm ftcash today announced its plans to hire around 500 people across verticals in the next 18 months.

"ftcash...plans to hire around 500 new team members over the next 18 months," the company said in a statement.

Software engineers for its tech team will comprise 15 per cent of the new recruits, while others will be hired across verticals such as marketing, sales, finance, and operations, it added.

"With our geographic expansion plans mapped out for the next few quarters, we will simultaneously strengthen our overall team to support our business growth as well as to scale up our platform's technological infrastructure," ftcash co-founder Deepak Kothari.

ftcash recently raised an undisclosed amount in a pre- Series A funding round from 500 Startups, a Silicon Valley- based early-stage venture fund, as well as its existing investor, IvyCap Ventures to support its geographic expansion plans, increase the merchant base, and upgrade its technological framework.

"Our aim is to extend our innovative transactional services to one million merchants over the next four years and disburse loans worth Rs 150 crore," Kothari.

ftcash provide assistance for small businesses and micro-merchants across India with the tools to transact online in a hassle-free manner.

The platform also assists MSMEs, home-based entrepreneurs, and mom-and-pop stores to secure working capital and small-ticket loans for day-to-day operations from financial institutions, the statement said.