Social enterprise entity Haqdarshak Empowerment Solutions Private Limited (HESPL) and Dvara Money have launched a pay-per-outcome financing model to bring 11 million workers in the informal and formal sectors into social security instruments. The other entities in the partnership are Dalberg, and Acumen.
The coalition of four firms aims to reach 11 million workers in three years and link them to social protection schemes and financial inclusion services.
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All the participants in the coalition have signed an MoU to formalise the programme, which would be spread over three years. The model ensues citizens at the last mile get access to government and private welfare schemes and services.
The programme aims to increase the social return on investment (SROI) at least two times, with participation from philanthropies, corporates and service providers.
“With the launch of this pay-per-performance model backed by a card-based platform, we are sure to expedite the impact in the social protection ecosystem in the next 4-5 years. We have already impacted 1.5 million families across 24 States in India, and with this new programme, our impact will increase multifold,” said Aniket Doegar, CEO and co-founder, Haqdarshak.
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Haqdarshak, which focuses on civic tech, aims to empower individuals and small businesses, both rural and urban, by providing easy access to relevant welfare schemes information and providing last-mile support for applications to these schemes.