HomeNewsDunzo turns to payroll financing app OneTap for August salary payments amid...

Dunzo turns to payroll financing app OneTap for August salary payments amid financial strain

Adyar Ananda Bhavan

Renowned restaurant chain Adyar Ananda Bhavan eyes INR 1,200 Cr PE fundraise, targets INR...

Adyar Ananda Bhavan (A2B), ͏a ͏͏renowned restaurant chain, ͏is͏ rep͏ort͏͏e͏dl͏͏y͏͏ ͏͏s͏͏͏e͏eki͏ng p͏riva͏͏te eq͏͏ui͏ty͏ (PE) funds͏ ͏to ͏ra͏͏ise be͏tween͏͏ I͏NR 1,0͏͏00-1͏,200 cr͏͏͏͏or͏͏e ͏͏by di͏lu͏tin͏g͏ ͏͏͏abo͏u͏͏t...

Mumbai’s first ever Sip and Vault restaurant ‘QEY’ opens its doors in Lower Parel

͏I͏n͏ the bustl͏ing he͏͏ar͏t of Kamala Mills, Lower Parel, a͏ fresh cu͏lin͏ary gem ͏͏is ca͏͏ptur͏͏in͏g ͏a͏t͏te͏͏ntio͏n.͏ Am͏id t͏h͏e͏ a͏r͏͏r͏ay of ͏popula͏r͏ ͏dini͏n͏͏g͏ s͏͏p͏͏͏ot͏s, ͏QEY:...

Dunzo, the beleaguered hyperlocal delivery firm, announced on Wednesday that it will be using the payroll financing app OneTap to make salary payments for August, according to individuals with knowledge of the matter.

In an internal communication, employees were instructed to download and register on the app, and complete a Know Your Customer (KYC) form to facilitate the receipt of their payments. The financially constrained company mentioned that employees can anticipate receiving their salaries either on Thursday or Friday. However, there was no information provided regarding the outstanding salaries for June and July.

Requests for comments on the salary payments via OneTap went unanswered by Dunzo.

“Please be assured that this partnership is between Dunzo and OneTap, and hence, all repayment liability rests solely with Dunzo. For team members, this will be treated as a regular salary credit with no interest or repayment obligations.” the firm said in an email to employees on Wednesday.

SnackFax reported on Saturday that Dunzo had once again postponed the disbursement of August salaries to several employees, despite their earlier commitment to settle them by the end of the preceding week.

Read More: Dunzo’s salary saga continues: August payouts now expected next week

Over the last eight months, the Reliance-backed company has terminated nearly 400 employees. Additionally, Dunzo is currently entangled in legal disputes with prominent entities such as Google India, Koo, and Glance, all related to pending vendor payments.

Read More: Cash-strapped Dunzo faces legal notice from Facebook and Nilenso over unpaid dues

Also Read: Legal troubles mount for struggling Dunzo as companies seek payment resolution

On August 22, SnackFax reported that Dunzo has been facing difficulties in securing funding due to a cash shortage. The discord among stakeholders over valuation disparities has emerged as a major point of contention among investors.

Read More: Dunzo’s financial distress intensifies amidst shareholder disputes over valuation decrease

Latest articles

Zomato continues streamlining operations, dissolves Slovakian subsidiary after 10 years

Zomato,͏ a le͏͏a͏ding͏ f͏oo͏dte͏c͏h͏ comp͏a͏n͏͏y, h͏a͏s sh͏u͏t͏ ͏d͏own͏ it͏s Slovakian subsidiary, marki͏ng ͏the͏ e͏nd͏...

Delhi High Court grants interim stay on Dubai Court’s compensation order against Honasa Consumer

Th͏͏e Delhi High Court has͏ or͏dered͏ an interim stay on a UAE court͏’s ͏decision...

Zomato rolls out new feature allowing customers to delete past orders

Foodt͏ech g͏i͏an͏t Zomato ͏has i͏͏nt͏ro͏d͏͏uced a n͏ew ͏f͏ea͏͏͏t͏ur͏͏e ena͏͏͏bli͏n͏͏͏g͏͏ cus͏tomers͏͏͏ t͏o͏ ͏͏del͏e͏͏͏te t͏heir pa͏st͏...

Beverly Hills Polo Club expands retail footprint with new store in Gujarat

Beverly Hills Polo Club,͏ a lea͏d͏ing app͏a͏rel an͏d ͏͏͏a͏͏ccessori͏͏e͏s brand͏, h͏as lau͏͏nched ͏it͏͏s͏͏ secon͏͏d͏...

Related Articles

Dunzo seeks USD 20 Million in funding from Reliance Retail amid cash flow challenges

Dunzo, the quick commerce startup, is currently seeking at least USD 20 million (about...

Foodtech giant Zomato diversifies into logistics with new Xtreme app

In an effort to expand its business diversification, Zomato, a prominent player in the...

Struggling Dunzo defers overdue salaries again, hints at further layoffs

Troubled quick commerce startup Dunzo has once more delayed the payment of overdue salaries...
× Drop a, Hi?