Calgary’s ZayZoon, the leading Earned Wage Access (EWA) provider for small and mid-sized businesses, today announced it has raised $20 million in an extension of its Series B financing.
Led by Viola Fintech with participation from Intuit Ventures and existing investors Framework Venture Partners, and Export Development Canada (EDC), the extension brings Series B total funding to $67 million.
By partnering with payroll providers to help small businesses offer their employees early access to their wages, ZayZoon alleviates the financial challenges many Americans face and helps small business owners better hire, retain and motivate their teams.
RELATED: ZayZoon is hiring on Techtalent.ca
In the last two years alone, ZayZoon has grown its business by almost a factor of 8, providing SMB business leaders with the tools to support employee recruitment, retention, and financial betterment.
“ZayZoon combines a powerful mission with exemplary execution that creates a real impact,” said Noam Inbar, Partner at Viola Fintech.
“By empowering individuals to have better control and flexibility, ZayZoon not only alleviates financial stress but also cultivates stronger relationships between employers and employees in the SMB space. We believe that the company will play a pivotal role in shaping the future of financial well-being and we are committed to supporting that journey.”
This financing will support ZayZoon’s continued growth, innovation, and expansion.
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