CEO: Steve Barha
Year founded: 2015
INSTANT Financial is changing the way the world gets paid. INSTANT’s solution provides employees with immediate access to their earnings and control over their finances while providing employers with direct savings and increased employee retention. Think of it as “Uber for pay!”
Over 135 million North American service industry employees typically wait up to two weeks to access their pay and as a result millions of workers wake up to the same challenge: they need access to their pay but payday is a several days away. Consequently, over $80 billion in interest and fees are paid to traditional banks, payday lenders and cheque cashing companies by these frustrated workers who previously had no alternative. INSTANT recognized this problem and set out to solve it by providing workers immediate access to their pay.