Salary streaming and budgeting platform, Nine25 recently announced the launch of its capital raise with Equitise, kicking off a $2.55 million raise as demand steadily increases from investors.
Unlike other so-called “budgeting” platforms which say that they budget by creating dashboards and reporting, Nine25 notes that it is a “first of its kind” software-as-a-service (SaaS) platform that really budgets effectively for its users by actively allocating funds to their bills using authorization to live employment and banking data.
Nine25 enables its clients to properly manage their bills, spend, and increase their wealth on a fixed-price subscription model, which is described as the “first of its kind” in a market that’s become quite used to outdated revenue models such as transactional fees, repayment fees and late payments.
What really differentiates Nine25 from traditional payday lending and high-interest models is that they are a “first-to-market” SaaS model. Nine25 has reportedly developed a subscription model that aims to disrupt every other model that currently exists in the market.
As explained in the update, clients are not charged interest or late fees and usually have predictable cost access to the platform which includes the real-time salary.
The Australian Fintech startup Nine25 is the first financial tech platform globally to address budgeting and salary management via a single app and is the brainchild of entrepreneur Leigh Dunsford who co-founded accounting software platform Waddle, a global lending enterprise SaaS platform that was acquired by Xero back in 2020 for $80 million.
As noted by its management, Nine25 developed groundbreaking tech that “enables customers to stream salary and wages on subscription to spend, manage and invest hard-earned money in real-time.”
They’re delivering embedded financial tools in partnership with payroll providers “to help employers attract, retain, and engage with their workforce beyond payroll.”
The company added:
“Don’t get it twisted; we’re a money app, NOT a bank. We are a collective of passionate humans with the financial know-how and software expertise that can launch Australians into their financial future. We want you to strive for financial independence – as simple as that. Our mission extends to the Pledge 1% global movement.”
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