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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

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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

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