French HR tech start-up Spayr has raised a €2.5 million Seed funding round led by Blast.Club and includes FBA (Femmes Business Angels) and other fintech angel investors.
Spayr's platform provides access to part of already earned salaries in an instant payment - this feature is customisable for companies to set their own limits.
"On average, the requests are around 160€ for all users, all sectors included. The innovation is to offer employees 24/7 accessibility and complete autonomy over their remuneration as well as instantaneous payments to really respond to unforeseen events. All this without having to go through a N+1 or a payroll manager, which saves everyone time," says Paul Riché, co-founder of the solution.
The app also has modules delivering budgeting advice to help employees better managing their finances, particularly during the current economical climate.
"Beyond a technological and practical solution, which changes the very fixed rules of salary, we also wanted to think of Spayr as a daily companion. More than one out of two French people consider their financial knowledge to be average. The idea is to give the keys to more autonomy, by providing flexibility on one's salary and budget education. Spayr allows us to refocus our salary policies on the human element by adapting them to the needs
of each individual," says Louis Ajacques, co-founder of Spayr.
"Spayr meets two needs that are more critical than ever to address in the current socio-economic context: offering employees autonomy over their compensation, and allowing companies to strengthen their salary policies while saving time for internal teams. This dual approach convinced us and we are very happy to be part of this adventure," says Anthony Bourbon, founder of Blast.Club.
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