In a Series B extension headed by Viola Fintech, $15 million was raised by ZayZoon, a supplier of earned salary access for SMEs.
In a Series B extension headed by Viola Fintech, $15 million was raised by ZayZoon, a supplier of earned salary access for SMEs.
including the addition, ZayZoon's Series B total raises to $49.5 million, including participation from Intuit Ventures, Framework Venture Partners, and Export Development Canada, its current sponsors.
SMEs can allow workers to get free access to a portion of their pre-earned income at any time by using ZayZoon's platform. Additionally, the platform provides tools and instructional materials to assist employees in ending the cycle of paycheck to paycheck.
According to the company, the service helps its companies save money on payroll processing, retain more staff, and draw in more candidates.
The company claiming to have increased its business by nearly an eightfold in the last two years will utilize the funds to drive for expansion.
According to Noam Inbar, partner at Viola Fintech, ZayZoon's empowerment of individuals to have greater control and flexibility not only alleviates financial stress but also fosters stronger relationships between employers and employees in the SMB space.
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