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Hastee
Manages employee financial health
- 21-100 employees
- Fintech
- B2B
- Enterprise
- Personal finance
- Payments
- Lending
- South Bank, London, UK
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Company mission
To solve the nation's reliance on high-cost credit, most notably payday loans, credit cards and overdrafts, by providing fairness and financial freedom to workers.
-3% employee growth in 12 months
Our take
The Hastee app allows workers to immediately access up to 50 percent of their earned pay at any point during a month. Hastee funds employee withdrawals on behalf of the company, with employers reimbursing Hastee on the “normal payday.” The app is solving a real problem: the majority of UK workers are said to rely on credit, and by giving workers earnings on demand, employees avoid taking on loans to carry them over to payday.
Hastee differs in that its service is completely free for employers, who contribute on a voluntary basis, meaning it has no effect on businesses' cash flow. However, the company faces competition from other payday startups such as WageStream, Even, Earnin and PayActive in an increasingly crowded field. Gig economy employers like Uber and Lyft already have features that allow drivers to cash out immediately after they drive.
Hastee is making moves to set itself apart, in 2020 through the acquisition of Spanish-owned Typs, an earnings-on-demand company. This will allow the company to support organisations across Europe, vastly widening its market.
Steph
Company Specialist at Welcome to the Jungle
Benefits
- 25 days holiday + 3 days' extra to spend with your family over the festive period
- Healthcare cash plan
- Access to your earnings on demand
- Hybrid working (we come in 2-3 days/week but work from wherever we want around that)
- Regular team socials
Funding (2 rounds)
Dec 2019
$10.2m
EARLY VC
May 2018
$5.7m
SEED
Total funding: $15.9m
Leadership
Jaime Jiminez
(CEO)Previously the CEO for iContainers. Was also the co-founder and CEO of Typs, later acquired by Hastee.