This financial services startup wants to ensure you get paid for the hours you worked, instead of having to wait for pay day. Based in Palo Alto, Activehours recently raised in $22 million in Series A funding, led by Matrix Partners. The new venture will "get your paycheck anytime you want," turning any day into pay day.
The mobile app lets you take a picture of an electronic timesheet displaying the hours you have worked. It's also fast -- earnings are deposited into your bank account with just one tap. The financial services startup also has an adjustable pricing scheme: you simply pay what you think is fair.
Ideal for employees who receive an hourly wage, and relevant considering rates of youth underemployment, Activehours is already in use by workers at companies including Starbucks, Urban Outfitters and Walmart.
Pay Day-Eliminating Services
Financial Services Startup Activehours Gets You Paid for Hours Worked
Trend Themes
1. On-demand Payment - Activehours allows workers to get paid for their hours worked instantly, disrupting the traditional pay day system.
2. Mobile Timesheet Management - Activehours' mobile app enables employees to easily submit and manage their timesheets, bringing convenience and efficiency to the process.
3. Flexible Pricing Models - Activehours offers an adjustable pricing scheme, giving users the autonomy to pay what they deem fair, revolutionizing the traditional pricing structure.
Industry Implications
1. Financial Services - Activehours is a financial services startup that is disrupting the industry by providing an alternative to traditional pay day systems.
2. Technology - The mobile app developed by Activehours showcases the integration of technology in the financial sector, opening up possibilities for further innovation and disruption.
3. Retail - Activehours' service is already being utilized by workers at prominent retail companies like Starbucks, Urban Outfitters, and Walmart, indicating potential for widespread adoption and impact within the retail industry.