Apply Today! Now accepting applications for the Accelerator’s 2021 Challenge: Financial Resilience and Growth. Learn More

Honeybee

HoneyBee is a service that allows employers to provide employees access to an extra week’s pay interest-free, as well as financial coaching.

ABOUT

HoneyBee is a service that allows employers to provide employees access to an extra week’s pay interest-free, as well as financial coaching.  


CHALLENGE 

Over 100 million Americans are living paycheck to paycheck and are falling through the cracks in our traditional banking system. Unexpected expenses can have an outsized impact on employee financial health.


SOLUTION

HoneyBee is a Certified B Corporation and the only company that allows employees to get an extra week’s pay anytime to help manage unplanned expenses, build credit, and pay down debt. The app:

  • Allows all employees, regardless of credit, to access up to $2,500 at a small 5% fee (capped at $50). 
  • Uses an employee’s salary, employment tenure, and accrued PTO  as their credit.
  •  Secures the loans with PTO, making them unique in this market. 
  • Provides the financial counseling that employees need in order to get on a healthy financial path.
  • Has provided an average cash flow increase of 10.74% to its borrowers, per HoneyBee’s 2018 Social Impact Report.


FINANCIAL HEALTH FOCUS

78% of employees with high financial stress say it impacts them at work. HoneyBee believes that employers can be part of the solution by offering benefits that fit diverse employee needs.

What They Do

Small-Dollar Loans for Employees

Team Members

Benny Yiu
Benny Yiu
Co-Founder
Ennie Lim
Ennie Lim
Co-Founder
Max Zschoch
Max Zschoch
Co-Founder

Year

2019

Location

San Francisco, CA

Status

Active

Stay Connected

Sign up to receive updates on the Financial Solutions Lab, companies, and more.