Nano Technologies, a startup that gives laborers access Vietnam access their acquired wages quickly through an application called VUI, has brought $3 million up in seed subsidizing. The oversubscribed round was driven by returning financial backers Golden Gate Ventures and Venturra Discovery, and included investment from FEBE Ventures, Openspace Ventures and Goodwater Capital.
Nano as of late participated in Y Combinator’s gas pedal program. Brilliant Gate Ventures and Venturra Discovery both took an interest in its pre-seed financing. The startup was established toward the start of 2020 by Dzung Dang, earlier a head supervisor at Uber and CEO of ZaloPay, and Thang Nguyen, who recently filled in as boss innovation official at Focal Labs and SeeSpace.
VUI dispatched a half year prior, and now serves in excess of 20,000 workers from organizations like GS25, LanChi Mart and Annam Gourmet. Nano Technologies asserts that about half to 60% of workers pursue VUI when their managers offer it, and utilize the assistance around multiple times each month to pull out their procured wages.
Nano’s acquired compensation access highlights can be utilized by bosses, everything being equal, in all areas, to offer adaptable compensation to their representatives, yet its attention is at present on retail, food and refreshment, and assembling, particularly for materials, articles of clothing and shoes. The startup says organizations in these areas have seen enrollment costs increment, while laborer maintenance drops. This is to some extent on the grounds that numerous individuals are deciding on gig economy occupations, similar to ride-sharing, where their acquiring are consequently stored into their computerized wallets or bank accounts.
Nano typically fronts wage advances, and afterward is taken care of back by managers on their paydays through finance derivation. Managers who have higher liquidity can likewise front wages through their own asset reports. VUI is generally offered by businesses as an advantage, and they can pick to cover expenses, have their laborers pay charges or utilize a co-pay model.
Nano is among a yield of organizations across the world that offer procured wage access, intended to assist organizations with holding laborers by allowing them to pull out profit at whatever point they need, rather than holding up until payday. In Southeast Asia, this likewise remembers GajiGesa for Indonesia. In the remainder of the world, different organizations that offer comparative administrations include Square, London-based Wagestream and Gusto). Nano will probably keep zeroing in on Vietnam, and grow new items for bosses, including devices for overseeing staff and engagement.
In a press explanation, Chi Phan, the CEO of LanChi Mart, an auxiliary of Central Retail with around 2,000 workers, said “On-request pay by means of VUI is a conspicuous thought and pragmatic HR drive that LanChi group is satisfied to carry out to our representatives as another deliberate advantage. VUI gives a truly necessary monetary help from LanChi to our workers, keeping the representative resolve up during the COVID-19 pandemic and lessening wearing down rituals post-Tet.”