This week FinTech Magazine looks at the startup that raised £208mn in funding, Hastee.
Hastee is a financial wellbeing solution targeted at employers and employees in order to better manage finances. The main appeal of the product is that it allows employees to withdraw up to 50% of their paycheck each month in advance.
“Becoming a destination employer”
Hastee acknowledges that we are in an age where everything is on demand apart from pay. It makes a case for being paid when the employee decides, noting that it has no financial impact on the business and provides a seamless payroll with time and attendance integration. Financial stress is present in many of our lives, and Hastee drives to reduce this through its flexible salary payment, in turn improving productivity and wellness through employees that would have otherwise been worrying at work.
Giving employees “something they will actually value”
“attracting talent [that will] keep [employees] happy and give them something they will actually value,” according to the company. This service is digitally disruptive, as it gives employees the power to decide when they get paid, as well as providing flexible budgeting options.
Current customers include London City Airport, IRIS, Avery Care Homes, and Mitchells & Butlers.
Founder & CEO James Herbert launched the platform in August 2017 in London.
[Image: James Herbert, LinkedIn]
Before founding Hastee, Herbert also founded the company Brightsparks, a platform that connects students with temporary and flexible work. Since then it has helped over 15,000 students and staffed over 17,000 events.
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