This brings the total raised since January 2020, when the business was founded, to USD 13.6M. Investors in the round include a mix of national and international funds, including Spain’s Seaya Ventures, a new backer of Payflow and Cathay Innovation via its C. Entrepreneurs Fund, which are co-leading the round; with participation from Force Over Mass Capital, Y Combinator and Rebel Fund.
The startup sells a salary-advance service to employers to offer their staff, charging companies a commission for the tech rather than levying a fee on users to withdraw a portion of their salary early. It operates a SaaS business model, charging employers a tiered fee depending on the number of employees using the product.
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