Business Aims To Complimentary Lyft Drivers And Hourly Workers From Cash-Flow Crunch

Business Aims To Complimentary Lyft Drivers And Hourly Workers From Cash-Flow Crunch

As a motorist for Uber and Lyft, Debi Jones spotted a chance to earn some extra cash during university graduation period in Raleigh, N.C. With several clients hiring her to obtain around towards the celebrations, she noticed they would oftimes be available to graduation that is buying, like caps and funny cups, from her vehicle.

An Android and iPhone app that allows drivers at Lyft and hourly workers to get paid for the hours they have worked immediately, instead of waiting for their pay to arrive from employer or on-demand services to come up with the money to buy the glasses, she turned to Activehours. Launched in might 2014, ActiveHours happens to be getting used by workers at significantly more than 3,000 organizations, relating to creator Ram Panaliappan. According to Activehours, they consist of Apple , Bank of America , Chase , Starbucks , Walgreens, Walmart, Whole Foods and many other things. Situated in Palo Alto, Calif., Activehours was funded with $4.1 million in seed money from Camp One Ventures, Felicis Ventures, and Ribbit Capital.

Getting an advance on her behalf pay enabled Jones, whom drives for approximately 30 hours a week, to purchase graduation accessories to market from her car—and make about up to she did driving. At area schools like Duke and North Carolina State, she states, “Graduation had been a week-long event.”

Activehours launched the application to deal with a pain point for all hourly employees and on-demand contractors: bad cashflow.

“It lets on-demand employees access their pay because they make it,” says Panaliappan. “I’m not sure why we make individuals wait fourteen days getting their pay. They are in short supply of spendable money, but have actually cash they attained they’re not permitted to utilize.”