Startacus
Join Now! /

Trezeo looks to the crowd to target full UK launch

Startacus RSS

by Startacus Admin

Trezeo
Trezeo
, a fintech startup focused on delivering financial stability to the self-employed, today announced its equity crowdfunding campaign on Seedrs to help fully launch its income smoothing business account product and kickstart its growth among the UK’s self-employed and gig economy workers.

Trezeo is a business account aimed at the self-employed, providing customers with a regular, defined income. Trezeo’s income smoothing service uses AI and machine learning to turn unpredictable income streams into reliable and regular payments, with no interest or hidden fees involved.

They do this by identifying customers’ average income, and when they dip below it one week - whether because work was slow, they were sick or just took a Trezeoday off - Trezeo tops them up to their average and gets paid back when the customer earns again. They also help customers build savings without having to think about it, as well as access to income advances for emergencies.

We previously featured Trezeo on Startacus in November 2017, and the Dublin-based FinTech startup, had just launched its UK pilot that month, having recently been named the overall winner of the NDRC Investor Day 2017 because of the huge difference it could make in the current gig economy.

Time and time again, the key challenge facing the self-employed is uncertainty around security of income and fluctuating earnings, which have wider financial implications around savings and accessing more traditional financial products. If these people can’t stabilise their week to week finances, pensions and insurance are an impossibility to prepare for.

This is where Trezeo comes in; poised to create a new financial category to ease the short-term financial volatility of, and in time financially empower, the self-employed.

Trezeo’s aim is to help the self-employed (including freelancers, consultants, giggers and other independent workers) build a predictable income and start to plan for a more empowered financial future. The platform is already live in the AppStore and PlayStore, has received approval from the FCA as a Registered Payment Institution, and is finalising its Consumer Credit Authorisation to become the first such service to offer income smoothing for independent workers in the UK.

Garrett Cassidy, Trezeo Co-Founder & CEO, said:

What Trezeo is doing in terms of income smoothing, helps satisfy both parties. We're helping gig economy platforms offer additional support to their partners, by providing a fair and transparent way to stabilise their income and plan for the future. But more importantly, we are reducing the biggest issue among these workers around instability so that they can just focus on working when they want. We align with both sides by addressing a core issue, using the data available through the platform to make it a seamless process for both parties.”

If successful, proceeds from the Seedrs crowdfunding campaign will be used to onboard and service initial pilot customers and partners, as well as to enrich the core account product and include additional financial products. 




Subscribe to our newsletter

If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Startacus RSS
Business DealsSubmit Your Startup
Win TicketsNetwork and Collaborate
Our Latest Features



Published on: 27th June 2018

If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.


Create an Idea!View Other Ideas, Projects or Startups
Why not Sign Up?
Create Projects
Edit Projects
Self Interviews
Self Starter of the Year
Product Giveaways
Subscribe to our Newsletter
Startacus
Check us out at our Google+ page!