Workplace settlement company Branch has raised $ 48 million in a Series B funding round led by Addition.
Drive Capital, Crosscut Ventures, Bonfire Ventures, Matchstick Ventures, and HR Tech Investments also participated in the funding.
Branches provide free bank accounts for businesses to provide to workers, as well as “immediate access to earned wages” and personal financial tools.
It corresponds to the W-2 and 1099 workforce, which represent single workers and independent contractors, respectively.
Founded in 2015, the company claims to have grown 300% year-on-year. Use new capital to improve our partnership program.
“Faster payments are the compelling and transformative benefits expected of today’s workforce,” said Atif Siddiqi, CEO of the branch.
“We have seen that we can significantly improve the cash flow of both businesses and workers.”
Branch Raises $ 48 Million Series B to Serve Independent Contractors
Source link Branch Raises $ 48 Million Series B to Serve Independent Contractors