Payroll-linked bill payment platform Highline has closed its seed funding round on $4.5m.
Foundation Capital and Costanoa Ventures served as the lead investors.
Highline’s mission is to help Americans take control of their finances based on their income and not their credit score. Through the linking of bill payments to their payroll, it claims more people can pay their bills on time and in full. Doing so unlocks better credit rates and reduces unnecessary fees.
The FinTech company claims over 40 million Americans have good jobs, but not credit scores. Some of these are those with low income while others are just people that are too busy to remember to pay bills on time.
Funds from this seed round will help Highline hire more staff and enhance its platform.
Highline CEO and founder Geoff Brown said, “The majority of Americans are living paycheck to paycheck, resulting in negative consequences like overdraft fees and missed payments. Highline believes access to better financial solutions begins with reimagining the broken bill payment system.”
Earlier in the month, Foundation Capital joined the $17m Series A funding round of Seel. The company offers insurance policies to e-commerce companies, leveraging AI to build proprietary underwriting software.
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