London FinTech Hastee raises €243mn

December 10, 2019 | Personal Finance Management

Written by FinTech Alliance

London FinTech Hastee raises €243mn

Hastee, a London-based FinTech startup, has raised €243mn.

In Brief:

  • The company offers a ‘financial wellbeing’ solution which allows workers to access their salary more quickly.

  • Investors include IDC Ventures and Umbra Capital.

  • A large number of the firm’s customers are in the hospitality sector.

What does this mean?

Initially these kind of offering sound the same as an interest-free overdraft, but they actually deal with the employer as opposed to a bank. Hastee pays employees up to 50% of their wages on demand and is then reimbursed by the employer on payday, which means cash flow is not impacted.

Read more here.

 

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