Stretch provides an API-driven platform for automating incentive and payout disbursements based on verified real-world goal achievement. The service allows organizations to design and deploy targeted reward programs for applications like training completion, staffing retention, or compliance monitoring. This streamlines engagement initiatives by replacing manual payouts with automated fund distribution upon task fulfillment.
Funding
Funding not disclosed
Founders
Product
Problem
Many individuals face challenges accessing traditional financial services due to factors like past incarceration or lack of a credit history. This limited access can hinder their ability to manage finances, participate in the economy, and receive timely payouts.
Solution
Stretch provides a platform for organizations to disburse funds to individuals through controlled-payment cards, enabling targeted spending and financial management. The platform allows for the creation of custom milestones, such as completing training programs or meeting healthcare goals, which trigger funding to a dedicated card. These cards can be configured with specific controls to ensure funds are used as intended, including restrictions on merchant types, transaction amounts, and even the ability to block cash withdrawals or P2P app usage. Stretch handles card issuance, funding, shipping, and ongoing support, while also offering data sharing for research, compliance, and accounting purposes.
Target Audience
Stretch targets organizations across various sectors, including government, healthcare, lending, and staffing, that need to disburse funds and track outcomes for incentive programs or financial assistance initiatives.
Features
- Customizable card controls to restrict spending based on merchant type, transaction amount, or payment protocol
- Milestone-based funding triggers for incentives tied to specific achievements or program participation
- Options to block cash withdrawals, P2P app transactions, and spending at specific merchants
- Real-time transaction data and reporting for program monitoring and compliance
- FDIC insurance up to $250,000 through partner bank Sutton Bank
- Fast card shipping via USPS Express with tracking
- Secure one-time login links for account access
- Direct deposit capabilities for select accounts