SalaryBook

High-Level Overview

SalaryBook is a mobile-first SaaS solution designed for payroll, employee attendance, and expense management, primarily targeting the vast market of Indian small and medium-sized enterprises (SMEs). It serves around 60 million SMEs and supports approximately 400 million blue-collar workers by digitizing and simplifying workforce management. The app offers seamless employee onboarding, selfie and location-based attendance marking, automated payroll calculations including overtime and deductions, and expense tracking, all accessible via mobile devices. This comprehensive platform addresses the operational challenges faced by SMEs in managing their workforce efficiently and transparently, enabling better financial and HR management at scale.

For an investment firm, SalaryBook represents a fintech and SaaS startup innovating in the underserved SME payroll and workforce management sector in India, leveraging mobile technology to tap into a large, fragmented market. Its mission aligns with financial inclusion and digital transformation of blue-collar employment. The startup’s growth momentum is driven by the increasing adoption of digital tools among SMEs and the rising need for formalized employee management systems in emerging markets.

Origin Story

Founded in 2021 by Apoorva Sharma, Ankita Sharma, and Poorva Dixit, SalaryBook emerged from the founders’ insight into the challenges faced by Indian SMEs and blue-collar workers in managing payroll and attendance using traditional, manual methods. The idea was to create a simple, mobile-first solution that could replace outdated punch-in systems and paper-based payroll processes with a digital, user-friendly app. Early traction came from the app’s ability to onboard employees quickly and provide features like selfie and GPS-based attendance, which resonated strongly with SMEs looking for easy-to-use, cost-effective workforce management tools. The company participated in Y Combinator’s Summer 2021 batch, which helped accelerate its product development and market reach.

Core Differentiators

• Mobile-first design: Optimized for smartphone use, enabling easy access for SMEs and blue-collar workers who primarily use mobile devices.
• Comprehensive workforce management: Combines payroll, attendance, and expense management in a single platform.
• Innovative attendance marking: Uses selfie and location-based verification to replace traditional punch cards.
• Financial inclusion features: Helps blue-collar employees build credit and skills profiles, supporting their financial empowerment.
• Ease of use and automation: Automates salary calculations considering overtime, leaves, fines, and deductions, reducing manual errors.
• Hiring and onboarding tools: Facilitates job posting, offer letter generation, and onboarding checklists within the app.
• Expense management: Simplifies expense tracking and monthly reconciliation for SMEs.

Role in the Broader Tech Landscape

SalaryBook rides the wave of digital transformation in emerging markets, particularly the push toward formalizing and digitizing the informal workforce in India. The timing is critical as Indian SMEs increasingly adopt mobile-first solutions to improve operational efficiency and comply with evolving labor regulations. The platform benefits from market forces such as smartphone penetration, government initiatives promoting digital payments and formal employment, and the growing gig and blue-collar economy. By enabling millions of blue-collar workers to create digital profiles and access financial services, SalaryBook contributes to broader financial inclusion and workforce formalization trends, influencing the startup ecosystem by demonstrating scalable fintech solutions for underserved segments.

Quick Take & Future Outlook

Looking ahead, SalaryBook is well-positioned to expand its user base across India’s SME sector and deepen its impact on blue-collar workforce digitization. Future growth will likely be shaped by trends such as increased regulatory compliance requirements, integration with financial services (e.g., credit, insurance), and AI-driven analytics for workforce optimization. The company’s influence could evolve from a payroll and attendance tool to a comprehensive HR and financial wellness platform for blue-collar workers, potentially expanding into other emerging markets with similar workforce dynamics. Continued innovation in mobile-first fintech solutions will be key to maintaining its competitive edge and scaling impact.