ZayZoon, a Calgary, AB, Canada-based provider of voluntary benefits that allow employees across the United States to instantly access their earned wages on-demand, raised $25.5M in aggregate.
The round consisted of:
- $12.5M in equity led by Carpae Investments and Alpenglow Capital, with participation from existing shareholders InterGen Capital, Prairie Merchant Corporation, and angel investors, Sanders Lee (Hopewell) and Rob Ohlson (Maillot Homes), among others, and
- $13M in a new credit facility with ATB Financial.
The company intends to use the funds to further expand product offering beyond Wages On-Demand and into additional products and services that financially improve employee outcomes & financial wellness, and to pursue hiring for key roles across Growth, Operations and Engineering.
ZayZoon provides a payroll integrated technology platform that enables businesses to give their staff access to a program that includes: Wages On-Demand, Financial Education and a Prepaid Spending Card.
FinSMEs
05/08/2022