A career break wasn’t on the cards for Leigh Dunsford after his company was acquired by Xero, with the founder launching a new fintech venture.
, was already formulating the idea for his next fintech venture before the sale closed.
His new venture Nine25 is a salary and budgeting app that that lets consumers access their wages as they earn them. The platform plugs into live employment and payroll data to make credit decisions about lending employees money for the hours they have already worked.Mr Dunsford distanced the product from BNPL players and payday lenders, saying users won’t be hit with interest or late fees, but pay a subscription of 33 cents a day to use the app. .
Mr Dunsford said a number of Australian businesses have already signed up to offer the service to their employees and the company has a waitlist of more than 7000 people.
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