Hastee was founded for a purpose: to improve the financial health and productivity of workers. Our solution allows employees to withdraw a portion of their pay as soon as they have earned it, breaking the outdated monthly pay-cycle that forces many into debt and financial stress.
Today we’re excited to announce we are one of the 14 semi-finalist organisations taking part in the Rapid Recovery Challenge.
The £3 million Challenge is funded by Nesta, in partnership with DWP, JPMorgan Chase and Money and Pensions Service. It is supporting tools and services that improve access to jobs and money for people across the UK, focussing on those hardest hit by the economic shock resulting from COVID-19 and aims to support 1 million people by 2023.
Through our own research as part of the Workplace Wellbeing Study 2020 , we know that COVID-19 has had a devastating impact on workers: a shocking 63% relied on high-cost credit between pay days in 2020.
Our Rapid Recovery Challenge solution will form a critical part of the recovery process: we will transform the way young people learn about personal finance, revolutionise personal finance transparency through our innovative technology, and give more of the workers hit hardest by the effects of COVID-19 access to their earnings on demand.
We can’t wait to get started.
Words by Clemens – Strategic Operations Director