ZayZoon
On-demand wage platform for SMBs
- 101-200 employees
- Fintech
- B2B
- Financial Services
- SaaS
- Downtown Commercial, Calgary, AB
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Company mission
To provide a platform that enables workers to access their earned wages ahead of the traditional pay cycle.
Our take
ZayZoon addresses the financial strain faced by workers due to unforeseen expenses in the gap between paychecks. By providing earned wage access (EWA), the fintech startup offers employees the option to access a portion of their pay ahead of schedule, aiming to curb reliance on high-interest loans.
ZayZoon's platform works at no cost to the employer, but charges workers a $5 fee for a withdrawal. This does raise concerns over whether this could exacerbate financial challenges for low-income workers, although compared to the interest on payday loans this is still an extremely attractive option.
With recent funding, the company plans to accelerate growth initiatives and navigate increasing regulatory scrutiny. Despite concerns about these regulatory challenges, ZayZoon remains optimistic and dedicated to empowering workers and assisting businesses in managing financial obstacles.
Kirsty
Company Specialist at Welcome to the Jungle
Funding (last 2 of 6 rounds)
Mar 2024
$15m
SERIES B
Sep 2023
$27.6m
SERIES B
Total funding: $73.7m
This company has top investors
Leadership
Darcy Tuer
(Co-Founder & CEO)Founded their first Software company, Halo Networks in 2000 while studying Electrical Engineering at the University of Alberta. They also co-founded Spira Data Corp where they served as the President for over 10 years.
Tate Hackert
(Co-Founder)An economics graduate with education from the University of Victoria, Canada, and the City University of Hong Kong. Now they are the Owner of Long Calgary.
Jamie Ha
(Co-Founder & CFO)Former Investment Banker with over 14 years experience, most recently serving as a Managing Director at FirstEnergy Capital.