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6 Fintech companies for the Freelancers, Creators and Entrepreneurs
Future of Work

6 Fintech companies for the Freelancers, Creators and Entrepreneurs

The Freelancer economy and the Creator economy are on FIRE. Here's a list of 6 Fintech companies paving the way for access to better financial services for Freelancers, Creators and Entrepreneurs.

Deepak Lalit
July 15, 2021

6 Fintech companies for the Freelancers, Creators and Entrepreneurs

1. LILI  (www.lili.co)

Lili's mission → "Empower freelancers with tools and services designed to improve their work, their life, and their balance"

Lili's main offerings → is a Checking account and a Debit card. Their differentiator versus some of the other neo-banks is that their checking account comes with a whole host of other tools and features particularly targeted at self-employed people. For example Invoicing Tools (and the ability to accept payments), Expense management/monitoring tools to track business expenses, and tax tools which allow you to automatically calculate and allocate a proportion of your income towards end of year tax liabilities in a segregated account.

LILI is Ideal for → Freelancers, particularly those who are in early stages and don't already have existing systems and software in place, or are unhappy with their existing set up (the process for sending out invoices, collecting payments etc).

2. WILLA (www.willapay.com)

Willa's mission → is to "help you take back control and get paid on your terms so that you can stay in the zone and focus on what really matters"

Willa's main offering → is an invoice factoring/early payment solution that allows Freelancers to offer traditional payment terms (Net 30 etc) to your Customers, but still get paid early. Willa charge you a 2.9% fees for the benefit of getting your money on the day that the invoice is issued, and Willa gets the money from your client a month later. Their service is accessible through an app and appears to be incredibly easy to use. Just download the App, send an invoice to your client, and get money in your Willa Account ( which you can transfer our to Paypal or a Current account).

Willa is ideal for → Freelancers and Influencers who work with Agencies and larger clients (established companies), but do not want the headache of chasing invoices are looking for payment straight away.

3. NOVO (www.banknovo.com)

Novo's mission → is to "To empower customers with their financial data and provide the most compelling banking experience possible."

Novo main offering → is a Business Bank account, which comes with a suite of services and tools including Invoicing (and accepting payments), Expense monitoring, and a whole host of integrations with your existing software. The Bank account can integrate with your Shopify store, or Stripe account, or your existing Accounting software suite like Xero or Quickbooks, to give you a holistic view of your Business Finances in one place.

Ideal for → DTC, E-commerce, or Micro SaaS businesses which are already using other platforms to process customer payments, but are looking for a Bank account that integrates with their existing infrastructure. NOVO can even integrate with slack or you can use Zapier to create your own integrations with other tools.

4. MERCURY (www.mercury.com)

In their own words → "Mercury is building banking for startups. We want to power the next generation of companies that will shape American industry"

Mercury's core offerings → are geared towards higher growth startups. They offer a Bank account and Debit card with usual perks. In addition, their Treasury product gives you improved yield on the idle cash in your Bank account. Their e-commerce solution offers integration with major shopping and payment solution providers like Shopify, Amazon, Paypal and Stripe. A major differentiator versus some of the other Banks is their partnerships with vendors and the discounts that you can get on a range of cloud services. They also offer 'community' as a service with targeted programs to help you meet other founders and investors.

Ideal for → High growth E-commerce and SaaS businesses looking for a Bank account with good cash management tools and additional community perks.

5. OXYGEN (www.oxygen.us)

Oxygen offers → a Personal and a Business account. Their personal account is geared towards smaller influencers and gives perks such as a fee-free Savings account, Cashback on approved merchants and and travel benefits. Their Business account is for self-employed individuals who want to set up an LLC to separate their finances. If you dont already have an LLC, you can set one up through the Oxygen App. Both their Personal and Business accounts come with the ability to create virtual cards for additional security.

Ideal for → Influencers or freelancers with a side-gig who are looking to set up a new account to separate their finances and formalize their activities.

6. HATCH (www.hatchcard.com)

Hatch's mission is → "to provide accessible, transparent, and fair financial and lending products to help people start and grow their businesses."

Hatch offers a Business Checking account with a lot of benefits. Their basic account is not free, but their pricing is extremely transparent and starts at 10$ a month. With this, you get a lot of perks. One of the main perks is their Cashback rewards and discounts with several business service providers including Quickbooks, Square, and Yelp. They also offer extensive payment options and the ability to pay your vendors from your dashboard(including payment by checks). They also offer additional benefits like Travel rewards (car rental and airport concierge services) and extended warranties on physical products. If your business qualifies - you can also access their Lending products (a line of credit).

Ideal for → Brick and Mortar small Business, physical product brands, restaurants etc who need cash/liquidity management products.

Deepak Lalit

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