Salary-streaming platform Nine25 raises A$2.25 million in crowdfunding round
First-to-market Salary Streaming and budgeting platform, Nine25 today announces the launch of its capital raise with Equitise, kicking off a $2.55 million raise as demand increases by investors.
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Unlike other ‘budgeting’ platforms who claim to budget by creating dashboards and reporting, Nine25 is a first of its kind software-as-a-service platform that actually budgets for its users by actively allocating funds to their bills using authorisation to live employment and banking data.
Nine25 allows its users to manage their bills, spend, and grow their wealth on a fixed-price subscription model, which is the first of its kind in a market that’s become accustomed to outdated revenue models like transactional fees, repayment fees and late payments.
What differentiates Nine25 from payday lending and high-interest models is that we are a first-to-market SaaS model. Nine25 has developed a subscription model specifically to disrupt every other model that exists on the market today. Users are not charged interest or late fees and have predictable cost access to the platform which includes the real-time salary.
Aussie start-up Nine25 is the first fintech globally to solve budgeting and salary management in one app and is the brainchild of entrepreneur Leigh Dunsford who co-founded accounting software platform Waddle, a leading global lending enterprise SaaS platform that was acquired by Xero in 2020 for $80 million.