Led · Seed · Jul 2022

B9 Inc is a fintech payroll solution platform that provides a full suite of app-based financial services to unbanked and underserved U.S. workers. The platform offers interest-free payroll advances, a free virtual VISA debit card linked to Apple Pay, the ability to send cash domestically and abroad, bill payment through the app, and additional family cards. B9 aims to promote creditworthiness by leveraging employment data and economic behavior. The company targets first- and second-generation immigrants who are underserved by traditional banks. Financially, B9 has continued fundraising activity, including a prior $5.0M seed raise in 2021 from angel syndicates and angel investors. B9 is a San Francisco–based personal finance platform led by CEO Sergei Terentev that provides financial solutions, consumer products, services, and resources to U.S. workers underserved by traditional banks. The product suite includes interest-free payroll advances, a VISA debit card for online and offline purchases, the ability to send cash domestically and abroad, bill payment via the app, and additional cards for family members. Recently launched features include Apple, Google and Samsung mobile wallet support, a physical card, a pull-from-card deposit feature, remote check depositing with instant access to funds, and free unlimited check cashing. B9’s banking services are provided by Evolve Bank & Trust, Member FDIC. Customers have deposited paychecks from more than 1,500 companies, including Amazon, Walmart, Lyft, Uber, DoorDash, Instacart and the U.S. Postal Service. The company plans to use new funding to expand operations and accelerate growth. B9 offers a full suite of app-based financial services targeted at unbanked U.S. workers and often first- and second-generation immigrants. Its features include interest-free payroll advances, a free virtual VISA debit card linked to Apple Pay, domestic and international cash transfers, bill payment, and additional family cards. B9 Account and the B9 Visa Card are provided/issued through its BAAS partner Evolve Bank & Trust, Member FDIC. The company plans to use the funds to scale up staff and invest in technology to expand operations and business reach. B9 has set a goal to reach 100,000 customers by the end of 2021. The fundraising is positioned to support that customer and product expansion plan.