DigitalCFO Newsroom | 23 June 2022
A B2B FinTech business established in Australia, CashD is redefining pay cycles, by enabling businesses to empower their workers to choose how and when they get paid.
By bringing together banking, payroll, and finance, CashD is a solution to traditional pay cycles that do not suit the on-demand needs of today’s workers. As a B2B business, CashD works directly with employers to promote financial fairness and freedom for their employees.
With inflation around the world increasing rapidly, CashD, cofounded by Marcus Lasarow, is enabling employees to get paid whenever it suits them, without having to wait for the end of the month. The company and its app are revolutionizing how companies pay employee salaries with the potential to dramatically impact the way in which we approach financial wellness, and planning.
The company has recently brought in UAE based fintech investor and entrepreneur, Eitan Neishlos, as a principal investor. Neishlos joins the company with an impressive track record of socially responsible investment, and is supporting the startups’ goal of aiding employees to access wages as earned and avoid high interest payday loans.
CashD believes that when an employee earns money, they should have access to their money in real-time. While there are some existing perceived solutions to this problem, CashD is unlike any lender or bank. An employee can view their available balance and instantly withdraw at any time during the pay cycle, receiving the funds directly to their bank account or directly pay bills. It’s not a loan, it’s their cash.
CashD has already made tremendous inroads in the Australian market. Today, hundreds of thousands of employees at dozens of leading companies have the ability to utilize their salary as it is earned.
CashD’s co-founder and CEO, Marcus Lasarow, “With inflation soaring, this type of financial flexibility is crucial. While this is a great step towards modernization in the way we approach salary and payroll, it is in reality a return to the values of enabling employees to have access to their wages as earned, using innovation to make this possible in today’s world.”
New principal investor, Eitan Neishlos noted, “I share CashD’s commitment to innovation geared towards having positive social impact. Their goal of empowering employees around the globe to have better financial wellbeing has the potential to revolutionize individual financial planning and credit. In this current environment, it has never been more important.”