Nine25, a salary streaming and budgeting platform, has announced the launch of its capital raise with Equitise, kicking off a $2.25m raise.
Nine25 claims it is a first-of-its-kind software-as-a-service platform that actually budgets for its users by actively allocating funds to their bills using authorisation to live employment and banking data.
Nine25 allows its users to manage their bills, spend, and grow their wealth on a fixed-price subscription model, which is the first of its kind in a market that’s become accustomed to outdated revenue models like transactional fees, repayment fees and late payments.
The firm claims that what sets Nine25 apart from payday lending and high-interest models is that the firm is a first-to-market SaaS model.
Nine25 has developed a subscription model specifically to disrupt every other model that exists on the market today. Users are not charged interest or late fees and have predictable cost access to the platform which includes the real-time salary.
The company claims it is the first FinTech globally to solve budgeting and salary management in one app and is the brainchild of entrepreneur Leigh Dunsford who co-founded accounting software platform Waddle, a leading global lending enterprise SaaS platform.
Cobee, a Madrid-based employee benefits platform, recently raised €40m in capital to develop its staff wellbeing platform.
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