Flexee offers a mobile application that allows employees to access earned wages on-demand, providing immediate cash flow without waiting for the traditional monthly payday. This service addresses the financial stress faced by workers by enabling instant transfers to their bank accounts, while being cost-free for employers and requiring minimal administrative involvement.
Funding
$4.5M 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.
JHFounders
Product
Problem
Many employees face financial stress due to the mismatch between their expenses and the traditional monthly payday, sometimes needing access to their earned wages before the scheduled payment date. This can lead to borrowing money or incurring late fees.
Solution
Flexee provides a mobile application that integrates with employer payroll systems to give employees on-demand access to their earned wages. Employees can withdraw a portion of their already-earned salary instantly to their bank accounts, providing immediate cash flow to cover unexpected expenses or bridge financial gaps. The platform automates the disbursement and reconciliation process, ensuring minimal administrative overhead for employers. Flexee also offers financial wellbeing resources, including lessons, tutorials, educational videos, webinars, and consultations with financial advisors.
Target Audience
Flexee targets employers looking to enhance their employee benefits package, particularly in sectors with a high proportion of hourly or shift workers, as well as employees seeking greater control over their finances and access to earned wages.
Features
- Mobile application for employees to view earned wages and request instant withdrawals
- Integration with existing payroll and HR systems via API for automated data synchronization
- Real-time wage calculation based on hours worked and pay rate
- Instant transfers to employee bank accounts, available 24/7
- Automated repayment process, deducting withdrawn amounts from the employee's next paycheck
- Financial education resources, including articles, videos, and webinars
- Personal financial consulting services
- Option for employers to subsidize or fully cover transaction fees