Rellevate provides a proprietary platform for real-time payment solutions, enabling users to access earned wages instantly without waiting for traditional pay cycles. This service alleviates cash flow issues for employees by offering immediate liquidity, reducing their dependence on high-interest loans.
Funding
$6.4M 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
Many employees face cash flow challenges between pay cycles, leading to reliance on high-interest loans or late fee accruals. Traditional payroll systems often require employees to wait days or weeks to access earned wages, creating financial strain. Businesses also face complexities and costs associated with managing various disbursement methods for employees, customers, and vendors.
Solution
Rellevate provides a platform for on-demand pay and digital disbursement solutions, enabling employees to access their earned wages before scheduled paydays. The platform offers a suite of financial products, including digital accounts, Visa debit cards, and gift cards, to facilitate seamless and secure money movement. Rellevate's disbursement solutions streamline payments to various stakeholders, such as employees, customers, and vendors, across multiple sectors, including healthcare, insurance, NGOs, government, education, and universities. The platform integrates with existing payroll systems and offers features like bill pay, money transfer, and 24/7 customer service. By providing flexible and efficient disbursement options, Rellevate aims to improve financial wellness for both organizations and recipients.
Target Audience
Rellevate targets employers looking to enhance employee financial wellness and retention, as well as government agencies, NGOs, insurance companies, healthcare providers, and educational institutions seeking efficient disbursement solutions.
Features
- On-demand pay feature allowing employees to access earned wages before payday
- Digital accounts with Visa debit cards for convenient spending and ATM access
- Disbursement solutions for managing payments to employees, customers, and vendors
- Integration with existing payroll systems for seamless implementation
- Electronic Benefits Transfer (EBT) capabilities for government programs
- Digital gift cards for incentives and rewards
- Employer portal for managing employee benefits and accessing reports
- Mobile app for account management and transaction tracking
- Real-time money movement and account funding across various end-user methods