FlexxPay.com, a Dubai-based social impact start-up, announced it has raised funding from a group of individual and corporate investors to roll-out its financial wellness platform.
The new platform will enable companies to offer salary advances to employees and will be launched in the UAE and Saudi Arabia. This follows the success of similar platforms in the US and the UK.
In a statement, FlexxPay did not disclose the value of the funding it raised or whom it came from.
The company’s platform allows employees an alternative to the traditional pay cycle.
Where most employees receive a salary at the end of the month and may not be able to cover unexpected expenses, FlexxPay allows employers cloud-based technology through which they can offer employees a portion of their already-earned but yet to be paid salary.