HoneyBee offers a supplemental financial wellness program that provides employees with no-cost, 0% interest funds for debt management and access to financial education resources. This program addresses the financial insecurity faced by modern workers, helping companies attract talent and improve employee retention.
Funding
$112.7M 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.
FVFounders
Product
Problem
Many employees face financial insecurity due to debt, lack of savings, and insufficient financial literacy, leading to stress and reduced productivity. Traditional financial wellness programs, like 401(k)s, may not adequately address the immediate financial needs of the modern workforce, particularly those with low savings or high debt. Employees often resort to borrowing from retirement funds, using credit cards, or taking out payday loans to cover emergency expenses, further exacerbating their financial challenges.
Solution
HoneyBee provides a comprehensive financial wellness program designed to alleviate employee financial stress and improve overall financial health. The platform offers employees access to no-cost, 0% interest funds to manage debt and cover unexpected expenses, regardless of their credit score. In addition to financial assistance, HoneyBee provides access to financial education resources through live and recorded webinars for employees and their families, covering topics ranging from college planning to retirement investing. Employees can also engage in confidential one-on-one sessions with financial therapists to create personalized plans for achieving their financial goals.
Target Audience
HoneyBee targets employers and HR leaders seeking to enhance their employee benefits package, attract talent, improve employee retention, and boost employee productivity by addressing financial stress.
Features
- On-demand access to 0% interest funds for debt management and expense coverage
- Financial education webinars categorized by age group, covering topics such as saving, budgeting, and investing
- One-on-one sessions with financial therapists via chat, call, or video in English or Spanish
- Personalized financial plans tailored to individual employee goals
- Resources addressing topics such as student loan management, homeownership, and retirement planning