WageNow
About WageNow
This startup provides embedded finance services that allow businesses to control the timing of their payroll disbursements. Their platform enables flexible payment schedules, helping companies manage cash flow more effectively.
```xml <problem> Many businesses, especially SMEs, face challenges in managing their cash flow due to the timing of payroll disbursements, which can strain their working capital and limit their ability to invest in growth opportunities. Traditional financing options like bank loans or factoring can be cumbersome, require collateral, and impact a company's debt-to-equity ratio. </problem> <solution> WageNow offers a flexible financing solution that allows companies to access capital by advancing funds for employee wages, thereby freeing up working capital without incurring debt. This off-balance sheet financing is categorized as a short-term receivable and does not affect existing credit lines or loan covenants. WageNow integrates with existing time and attendance systems to determine earned wages, enabling employees to access a portion of their paychecks early through a user-friendly mobile application. The company provides stable or seasonal capital, which allows businesses to schedule costs for a specific month. </solution> <features> - Off-balance sheet financing that does not impact debt-to-equity ratio - Integration with existing time and attendance systems for automated wage calculation - Employee mobile app for requesting early wage access - Flexible repayment terms aligned with the company's cash flow - Stable and seasonal capital options - Tax optimization through wage and tax payment deferral - Fast funding within 7 days of application - Transparent pricing with a fixed monthly fee per employee </features> <target_audience> WageNow primarily targets SMEs with 20 to 500 employees that are looking for flexible financing solutions and want to offer earned wage access as an employee benefit. </target_audience> <revenue_model> WageNow generates revenue through interest on the capital provided, ranging from 4-10% annually, and a service fee of €3 per employee per month. </revenue_model> ```
What does WageNow do?
This startup provides embedded finance services that allow businesses to control the timing of their payroll disbursements. Their platform enables flexible payment schedules, helping companies manage cash flow more effectively.
Where is WageNow located?
WageNow is based in Banská Bystrica, Slovakia.
When was WageNow founded?
WageNow was founded in 2022.
How much funding has WageNow raised?
WageNow has raised 1700000.
Who founded WageNow?
WageNow was founded by Peter Čapkovič.
- Peter Čapkovič - CEO & Founder
- Location
- Banská Bystrica, Slovakia
- Founded
- 2022
- Funding
- 1700000
- Employees
- 9 employees