Trunk Tools, a New York-based construction-focused fintech startup, raised $9.9M in Seed funding.
The round was led by Innovation Endeavors, with participation from Fifth Wall, Foundation Capital and others.
The company intends to use the funds to accelerate growth by expanding its team, helping accelerate the development of its output-focused incentives solution, and driving market adoption.
Led by Founder and CEO Dr. Sarah Buchner, Trunk Tools offers construction companies an all-in-one platform to unlock financial flexibility for employees to access a portion of their wages daily at no extra cost to them. Its platform uses AI to help managers set productivity goals and safety rewards, which workers receive directly via SMS, eliminating the need for additional app downloads. Workers can view current and upcoming tasks, check their balances, review transactions, and perform other essential functions directly from their phones. Companies pay their employees instantly via dedicated debit cards, and the software integrates into existing payroll systems.
Trunk Tools has also been accepted into the latest cohort for Stanford dy/dx, a program supported by Sequoia Capital, Accel, Lightspeed, Index, Innovation Endeavors.
FinSMEs
13/07/2023