Hi55 Ventures is a leading fintech company who have created a payroll-focused funding platform called Hi.
When onboarded to the platform, Hi, not the employer, directly pay employees their earned but unpaid salary. Depending on company size and location, the employer’s salary payments can be financed for up to 13 weeks on a rolling basis – resulting in the employer holding onto their cash longer and increasing their cashflow.
On top of this, their employees are paid weekly, increasing their own liquidity and reducing potential reliance on high-cost credit or overdrafts. The Hi platform is available to any employer – from large, multi-national companies to small, local businesses.
Hi55 Ventures have global strategic partnerships with NTT DATA and Mastercard, and are part of the exclusive Microsoft for Startups program. They are strongly committed to positive social change, and are a certified Social Enterprise with B Corp Pending status.
Hi was born out of one question ‘Can we release working capital by changing employee terms?’
Industry is used to improving cash flow by using financial instruments such as invoice factoring to help manage their cashflow. No-one ever tried to release working capital by financing payroll while improving employee well-being.
Investigating this resulted in identifying two problems with Payroll:
- Employees being paid in arrears often get caught out by predator lenders to manage their cashflow.
- Employers require large amount of working capital to fund payroll.
From these two problem statements Hi was developed with the idea that companies need access to cheaper financing and employees have a right to their own money as soon as they earn it.
FOUNDER & CEO
David Brown has over three decades worth of experience and two successful start-ups founded under his leadership. He loves to build businesses with a focus on payments using his unique background in structured trade finance, technology and legals.
David puts social impact at the core of everything he does and Hi55 Ventures was developed from the idea that companies need access to cheaper financing and employees have a right to their own money as soon as they earn it.