Rosaly raises € 10 million to become the European leader in pay on demand –

A 2th round table for Fintech which introduced the digitalisation of wages on demand in France, to follow in pre-seed 1.5 million euros in April 2021 …

All of these VCs are convinced that pay-on-demand is one of the biggest fintech revolutions in the years to come.

A fundraiser from 10 million euros which will allow Rosalia open several countries in Europe by the end of 2024 and recruit.

The ambition of Rosalia is to become the European leader in its market.

she pallows all employees to receive their remuneration free of charge on request, according to their needs, and to acquire purchasing power …

… And Human Resources to have a processes simple and inexpensive that allows them to save time and retain their employees.

Digital at the service of employees’ purchasing power

Rosaly is an innovative Fintech B Corp with a social impact, founded at the end of 2019 by Arbia SMITI. Its mission is to help companies improve both the financial well-being of their employees and their employer brand thanks to a digital solution for the prepayment of salary, or salary on demand, accompanied by a financial education system.

The French pay every year 7 billion euros in bank expenses, and 95% of employees’ bank overdrafts are due to financial contingencies, Rosaly offers them a free opportunity to better manage their personal budget and obtain purchasing power, very simply from its application.

With already 150 customers in France, Rosaly signed a partnership in June 2022 with 3 of the largest players in the employee benefits market in Europe: Sodexo Pass France, Groupe Up and the Bimpli platform, which manages employee benefits. BPCE Group. This deal will improve the financial well-being of 33 million employees in Europe and North Africa thanks to digital and free access to the deposit.

And Rosaly’s solution is a partner of the ADP market, the world’s largest payroll publisher, as an official partner, offering businesses a centralized payroll deduction solution.

Salary-savvy investors on demand

This new funding round is led by Fin Capital, an American fund ($ 1.5 billion under management) that has invested in Dailypay, the firsttime American Unicorn offering an on-demand salary solution in the United States.

This VC is followed by The Treasury VC (founded by the creators of the American fintech unicorns Acorns and Betterment), Haymaker (United States), FJ Labs (United States), Auxxo (DE), LeFonds VC (FR / US), Clocktower (United States United). ) and Kraken Ventures (UK).

The payroll deposit is already a mature concept in the United States, large companies such as Walmart, Starbucks, have been using it for many years with measurable results. England and South America have also been using it for a long time.

All these investment funds are convinced of this the salary on demand is one of the biggest fintech revolutions in the years to come.

A market of 100 million employees

The payroll market is aimed at around 100 million employees in Europe. A rapidly growing sector in this period where everyone is in demand: employees looking for purchasing power and financial flexibility, and employers who need to both retain their employees and make sure the best people want to join them.

Practices are changing: in January 2022, an OpinionWay study for Rosaly revealed the desire of the French to receive their salary several times a month: thus, 57% of people under 35 would like to receive their salary every 15 days.

Become a European leader and expand its services

Very present in the retail, restaurant, hotel, personal services and industry sectors in France, Rosaly aims through this fundraiser to:

● Become the European leader in the short term by opening several countries in Europe in the next 2 years (Italy, Belgium, Netherlands, Germany, etc.)

● Implement a complete product related to financial well-being with, in addition to the salary on demand, new financial products such as budget coaching, salary savings, cashback, credit card, etc.

● Strengthen its partnerships with the main market players such as ADP, Sodexo, Groupe BPCE, Groupe UP, etc .;

● Recruit a hundred profiles by the end of 2024.

Arbia blacksmithFounding President of Rosaliadeclares : ” With the cost of living rising rapidly and the purchasing power of French and Europeans decreasing proportionally, the goal of Rosalia is to help all employees better manage their budgets. This requires training but above all very simple digital tools, free to use and effective to better deal with the unexpected. We want to get the French out of over-indebtedness by helping companies improve their employer brand and the well-being of their employees.

Logan Align, Manage Fin Capital partner who joins the Rosaly Board of Directors: We are very happy to lead this new funding round Rosalia, to help provide the European workforce with digital access to wages, financial education and well-being. We have invested in Pay Dailythe protagonist of this category in the United States, and we are confident Rosalia will become the leader in Europe. “.

Jeff Cruttenden, Managing Partner of The Treasury VC: We are impressed by what Rosaly has managed to achieve in this new market in a very short time, and especially by her very ambitious vision to revolutionize payroll and banking services and potentially build the social bank of workers and employees in Europe.

Of Rosalia : Rosaly is an innovative Fintech with social impact, founded at the end of 2019 by Arbia SMITI, a serial technology entrepreneur, which helps companies improve the financial well-being of their employees by simplifying access to salaries and providing advice and budget education to employees. using an app. On the employee side, Rosaly allows them to face difficult end-of-months more calmly and avoid overdraft fees or consumer loans. From a commercial point of view, Rosaly has a strong positive impact on employer branding, loyalty and employee involvement and removes significant administrative costs in the ongoing management of internal installment requests. Rosaly raised € 1.5 million in April 2021 and € 10 million in September 2022.


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