LoadShare partners with KarmaLife to launch a Credit program

By Leandra Monteiro

KarmaLife, a real-time financial solutions provider to the Gig workforce announced a partnership with logistics platform LoadShare to launch a credit program to empower its delivery executives.

LoadShare offers a range of logistics solutions including hyperlocal, line-haul delivery, warehousing services, and modular logistics software solutions to business clients.

Gig workers require access to short-cycle credit to meet an erratic cash need in between their payout cycles. This partnership enables those delivery executives at LoadShare to get easy and affordable access to funds through the KarmaLife app thereby empowering them to manage their financial liquidity and also start building their credit histories.

Commenting on the alliance, Rohit Rathi, Co-founder & CEO, KarmaLife said, “Through this partnership, we are excited to extend our solutions to a rich diversity of logistics workers on weekly, bi-weekly and monthly payout cycles. We are leveraging our quick deployment cycles, demonstrated value creation for the logistics segment, and automated operational flows to co-create an impactful and scalable model that can ride on the coattails of LoadShare’s future growth.”

The partnership is in-sync with LoadShare’s mission of creating 1M+ new jobs in the logistics ecosystem – by running wellness programs such as KarmaLife’s Earned Wage Access.

“We are excited to partner with a unique, data-driven finance platform like KarmaLife. We believe employer participation is the biggest enabler to channel sustainable finance to gig workers. Early access to earnings and long term credit helps stabilise a gig worker’s financial health, which in turn increases productivity and retention at work. KarmaLife’s easy integration model allowed us to roll out and scale the solution,” said Rakib Ahmed, Co-founder LoadShare.