By Anshul Khurana, Co-founder and CEO – Entitled Solutions
India’s gig economy is witnessing unprecedented growth, with NITI Aayog projecting over 23.5 million gig workers by 2029–30. As this flexible workforce becomes a backbone of the nation’s economy, fintech is stepping in as a powerful enabler—bridging financial gaps, unlocking access to essential services, and reshaping livelihoods.
Fintech is not just simplifying payments or streamlining financial tasks. It’s fundamentally empowering gig workers with the tools to build credit, access benefits, and achieve financial stability—paving the way for more secure and dignified lives.
1. From Invisible to Creditworthy: Building Trust in Alternative Data
Traditional financial systems often sideline gig workers due to the absence of consistent income or formal employment history. But fintech is flipping the script by leveraging alternative credit scoring—drawing insights from work patterns, digital payments, and transaction histories.
Platforms like Entitled Solutions are leading this shift, offering gig workers access to personal loans and micro-credit by analyzing real-time income flows rather than outdated credit scores.
“Fintech is breaking down systemic barriers. By focusing on actual earning behavior, we’re enabling gig workers to access credit with dignity,”
— Krishna Yadav, CFO, Entitled Solutions.
A 2023 report by the Center for Financial Inclusion notes that gig workers utilizing these models are 40% more likely to qualify for credit products like personal loans and home financing.
2. Smarter Money, Stronger Futures: Navigating Financial Volatility
One of the biggest challenges gig workers face is income unpredictability. Fintech services—through instant payouts, automated savings, and income-smoothing tools—are helping stabilize cash flow and reduce economic anxiety.
A 2022 Razorpay survey found that 68% of gig workers using fintech platforms reported improved financial stability. These tools are not just convenience features—they’re lifelines for workers navigating variable daily earnings.
“Instant payouts have transformed how gig workers manage their lives. Over 75% of our gig economy transactions are now settled in real time,”
— GPay spokesperson.
This level of immediacy is empowering workers to plan better, save proactively, and make smarter financial decisions.
3. Redefining Benefits: Portability and Flexibility for the Modern Worker
Perhaps the most groundbreaking shift is fintech’s role in delivering access to benefits traditionally reserved for full-time employees. Health insurance, life cover, and retirement plans are being reimagined for the gig ecosystem—modular, portable, and built for flexibility.
Startups like Plum and Acko are pioneering pay-as-you-go insurance and micro-pension offerings, often integrated into gig platforms.
A recent NASSCOM study revealed that 60% of gig workers are open to contributing small sums from their earnings in exchange for access to essential benefits like health insurance or pensions.
This willingness reflects a growing awareness—and fintech’s ability to meet workers where they are, with solutions that are both affordable and easy to use.
The Road Ahead: Fintech as a Force for Inclusive Growth
As India moves toward becoming a $5 trillion economy, ensuring that its gig workforce is not left behind is both a moral and economic imperative. Fintech is uniquely positioned to deliver impact at scale—not just through innovation, but through empathy-driven design that truly understands the gig worker’s challenges.
At Entitled Solutions, our vision is to empower 10 million low-income workers by 2026, giving them access to the tools they need to spend, save, insure, and invest wisely.
The future of work is evolving—and with the right fintech infrastructure in place, the gig economy won’t just survive. It will thrive.
