Trezeo seeks funding from the crowd at Seedrs
Business account provider Trezeo is announcing its equity crowdfunding campaign on Seedrs, with the aim to help launch its “income smoothing” product and kickstart its growth in the UK.
Trezeo targets the 4.8 million self-employed people in the UK, which has increased by 50% in the past decade, according to the Office of National statistics (ONS).
Garrett Cassidy, Trezeo’s CEO and co-founder, says: “The vast majority of today’s gig economy are working in this way out of choice, but today’s world still isn’t set up for them. This is where tech-based solutions, led by artificial intelligence (AI), can address key frustrations that add real value for them.”
Trezeo believes that the key challenge facing the self-employed is uncertainty around security of income and fluctuating earnings, which have wider financial implications around savings and accessing more traditional financial products.
Its account will offer customers with a regular, defined income. It uses AI and machine learning to turn unpredictable income streams into reliable and regular transparent payments.
Trezeo tops users’ earnings up to their average when they go down, and this amount gets paid back when the customer earns again. It also helps customers build savings, as well as access to income advances for emergencies.
The platform is already live in the AppStore and Play Store, and it received approval from the UK’s Financial Conduct Authority (FCA) as a registered payment institution, and is finalising its consumer credit authorisation.
The other co-founder is CTO Flavien Charlon, who was the author of the Blockchain Open Assets protocol.
Cassidy has experience in Goldman Sachs, Bank of Ireland and Circle, among others.
