Able provides a comprehensive platform for managing complex B2B payment operations, streamlining accounts payable and receivable processes. The system automates reconciliation and compliance across diverse payment rails, including ACH, wire, and virtual cards. This integration reduces manual effort and accelerates working capital cycles for large enterprises.
Funding
$5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Freelancers and self-employed individuals often struggle with managing their finances due to inconsistent income, leading to difficulties in calculating and setting aside the correct amount for taxes. This can result in unexpected tax bills and the administrative burden of manual bookkeeping.
Solution
Able is a digital platform designed to automate savings, tax calculations, and record-keeping specifically for freelancers and self-employed individuals. By connecting to users' income sources, Able provides real-time tax calculations, ensuring users know exactly how much to save. The platform automates the savings process, setting aside the appropriate amount to avoid large tax bills. Able also prepares and keeps records, making it easier for users to prove their income when needed.
Target Audience
The primary users are freelancers, independent contractors, and creatives who need a simple way to manage their income, savings, and taxes.
Features
- Automated savings based on user-defined percentages or calculated estimated tax rates.
- Real-time tax calculations based on connected income sources.
- FDIC-insured savings accounts held at partner bank, MVB.
- Automated record-keeping for income verification purposes.
- Bank-level security with end-to-end 256-bit encryption.
- Compatibility with users who also have W-2 income.