Grazzy offers an extensible digital payments platform that enables digital tipping, instant disbursements, and inclusive banking solutions tailored to hotels, bars, restaurants, salons, car washes and other service businesses. The platform helps hourly employees make more money, access wages the same day, and save and spend more meaningfully, while reducing employer retention and recruiting costs. Grazzy also supports back-of-house operations with tax-compliance assistance, scalability for businesses of any size, and real-time help from an expert care team. The company reports it has moved millions of dollars directly to thousands of worker wallets and says it has saved enterprise customers thousands of dollars a month in recruitment and retention costs. Grazzy plans to use the new funding to expand its team, accelerate new customer onboarding, and scale partnerships, integrations and go-to-market efforts. The product roadmap and go-to-market investments are intended to support continued rapid growth and additional ecosystem partner integrations. Grazzy provides a business-to-business instant tipping, payout and tax-compliance platform for service employers (hotels, bars, restaurants, salons). Guests tip via property-branded QR codes and Grazzy Direct allows employees to access tips on the same day. The platform tracks funds for tax compliance, reports wage impacts, and charges processing fees as its revenue model. Grazzy says digital tips can boost employee earnings by about 20% on average and serves as a recruitment and retention tool while offering financial-wellness features. The company began development in September 2021, signed its first large hotel customer in July (now about a dozen customers), and started generating revenue in the last month. Management plans to expand into additional hotel brands and operating groups and to build integrations with major operating systems and more worker financial-wellness tools.

Total raised

$8M

Funding rounds

2

Latest round

Seed

Latest activity

Jul 2024