Hi55 Ventures Limited

Hi55 Ventures Limited

Profile

Hi is an innovative fintech with a social purpose: to boost the financial wellbeing of employees by giving them faster access to their earned wages. Conventional payroll traps employees in month-long cycles of waiting for payday, in effect forcing them to offer an interest-free loan to their employer. In that period unexpected costs such as vet bills or car repairs can push individuals towards high-cost credit sources like payday loans or credit card debt. In fact, 35% of employees in the UK regularly fall short on an expense between pay periods, whilst $1 trillion of accrued pay is retained in OECD employers’ treasuries. Hi increases the frequency with which employees are paid, at no cost to the individual. This is recommended by both EY and the Resolution Foundation for the dual benefits of boosting their liquidity and improving their mental health by reducing financial stresses.

Product or Service

Professional Services , Technology services

Social and Environmental Missions

Financial exclusion

Regions of Operation

United Kingdom (countrywide)

Head Office Address

c/o Freeths LLP, Routeco Office Park, Davey Avenue, Knowlhill, Milton Keynes, Buckinghamshire, MK5 8HJ, United Kingdom, South East England
Website: www.hi55.uk