EPesos provides a mobile platform that allows employees to access up to 30% of their earned wages instantly, without the need for loans or credit. This service addresses the financial stress faced by workers in Mexico, enabling them to manage cash flow more effectively and reducing turnover rates for employers.
Funding
$21M 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.
ACFounders
Product
Problem
Many Mexican workers live paycheck to paycheck and experience financial stress due to unexpected expenses or cash flow gaps. Traditional financial solutions like loans are often inaccessible or carry high interest rates, exacerbating the problem. This financial instability can lead to increased employee turnover for employers.
Solution
ePesos offers a mobile platform that allows employees in Mexico to access a portion of their earned wages instantly, providing a financial safety net without incurring debt. Employees can access up to 30% of their already-earned salary whenever needed, 24/7. This service helps employees manage their finances more effectively by providing immediate access to funds, reducing financial stress and promoting financial inclusion. Employers benefit from reduced employee turnover and increased employee satisfaction.
Target Audience
The primary target audience is Mexican companies looking to improve employee financial well-being and reduce turnover, and their employees who need access to earned wages between paychecks.
Features
- Mobile app for employees to access earned wages
- Instant access to up to 30% of earned salary
- Low-cost access to funds (up to $35 per withdrawal)
- 24/7 availability of funds
- No credit checks or loan requirements
- Seamless integration with existing payroll processes