Vietnam-based Nano has raised US$3 million in its seed round from investors, including Golden Gate Ventures, Venturra Discovery, FEBE Ventures, Openspace Ventures, and US-based Goodwater Capital.
“Given the ubiquity and acuteness of the cash flow mismatch problem for the working people, more frequent payroll is not only good for low-income workers but also a tactical yet underappreciated initiative that employers could deploy to stand out in the labor market,” said Founder Dang.
Nano enables companies to offer flexible payments to their workers through its payroll platform VUI. The app also helps employees keep track of attendance, receive announcements from their employers, and learn the basics of personal financial management.
Nano said VUI, launched just six months ago, now serves over 20,000 employees from organizations in Vietnam including GS25, LanChi Mart, and Annam Gourmet. According to the company, roughly 50% to 60% of employees would sign up for the app and use the service about 3x a month to receive early salaries.
Announcement: Nano Raises $3M for Flexible Pay