Tanda builds a digital version of the traditional tanda (rotating savings and credit association) that employers can offer as a benefit to retain staff and reduce turnover. Employees join via QR code, contribute fixed increments starting at $100, and can borrow up to $2,500; fees vary by payout position (e.g., ~10% for early payouts, rewards or no fee for middle positions). Employers can sponsor fees so workers receive the benefit at no cost. The company is working with a small group of restaurants, managing a few hundred thousand dollars, and is building a waitlist. Founder Jesse Chor developed the idea from family tandas and a Yahoo prototype he worked on in 2018; he left Yahoo in 2019 to continue building the concept. Tanda plans to use recent funding to scale the product and hire additional staff.

Total raised

$5M

Funding rounds

1

Latest round

Seed

Latest activity

Nov 2023