Fintech platform BillMart has launched a new credit line product — GigCash — tailored to meet the financial needs of India’s fast-expanding gig economy. Designed for platform-based workers such as delivery personnel, drivers, and freelancers, the initiative aims to offer easy, flexible, and fast access to short-term credit with zero collateral.
According to NITI Aayog, India had 7.7 million gig workers in 2020–21, a number projected to grow to 23.5 million by 2029–30. Yet most of these workers remain underserved by formal credit channels. Surveys show that over 70% of gig workers are denied loans by traditional banks and NBFCs, often due to low or irregular incomes.
Fast Credit, Fully Digital: How GigCash Works
GigCash is structured to align with the income cycles of gig workers. Through partnerships with digital platforms and aggregators, BillMart allows eligible workers to link their accounts and complete a digital KYC in minutes. Once verified, a credit limit is determined based on past earnings, and funds are instantly disbursed to the user’s bank account.
Repayments are deducted automatically from future payouts, ensuring zero paperwork or manual processes. The product is free of hidden fees or collateral requirements, and offers transparent pricing with flexible repayment options.
“GigCash represents our commitment to financial inclusion,” said Ashok Mittal, Managing Director & CEO of BillMart. “This is a step forward in empowering gig workers to meet urgent expenses without falling into debt traps.”
Backed by Data, Driven by AI
The platform uses AI-based underwriting models to assess risk, track income trends, and make faster loan decisions. This data-driven model helps reduce loan processing time and default rates, while also allowing for customised credit offerings in the future.
Since its soft launch, GigCash has already supported 6,000+ gig workers through pilot partnerships with major gig platforms. The company expects demand to surge during festive seasons and high-spend periods.
Part of a Broader Credit Ecosystem
GigCash complements BillMart’s existing product suite, which includes invoice financing, working capital loans, supply chain finance, and trade finance for MSMEs and corporates. The company’s platform is ISO 27001 and SOC2 certified, with plans to launch India’s first AI-powered MSME credit grading system in the near future.
As India’s digital lending market is projected to reach ₹104 trillion by 2030, products like GigCash are expected to play a crucial role in ensuring inclusive credit access for underserved segments of the workforce.