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Trezeo - finance for freelancers

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by Startacus Admin

trezeoFor the self-employed, keeping your finances in check can be that bit more difficult. Without a steady, reliable income, bills and other regular outgoings are a constant worry and can be difficult to pay on time some months.

Freelancers can often find themselves having to use bank overdrafts and loans in order to stay on top of things. Fees and interest mean that this is not a viable route in the long term, and can end up being even more expensive, and creates a vicious circle, and nobody likes that kind of geometry. Wouldn’t it be nice if there were some kind of FinTech startup that saw this issue and decided to do something about it…?

trezeoTrezeo is such a startup (we’re confident you didn’t see that coming)!

The idea of Trezeo is to keep a freelancer’s income consistent, easing the aforementioned stress that comes with such irregular, unpredictable cashflow.

It does this by paying you the freelancer a fixed monthly amount - directly into your bank account - based on your average income. If the freelancer makes more than that average, the extra will be added to a savings account. If you make less than the average, Trezeo will provide a cash advance to make up the difference. This difference comes with no extra fees or interest, and will be paid back from future income. There is one fixed, monthly subscription fee for the service, with no additional fees or charges.

This Dublin-based FinTech startup, which is launching its UK pilot this month, was recently named the overall winner of the NDRC Investor Day 2017 because of the huge difference it could make in the current gig economy. Before that, they won the Payments Dragons’ Den competition at PayExpo Europe in London. These achievements are hardly surprising, given the positive effect Trezeo’s business stands to have on freelancers and the gig economy.

 

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Published on: 19th November 2017

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