Monetary wellness profit platform for workers Northstar has raised $24.4 million in a funding spherical joined by PayPal Ventures and Thomson Reuters Ventures.
GGV Capital led the spherical, with participation from Canvas Ventures, M13, Workday Ventures, Parade Ventures, Basis Capital, Designer Fund, and RRE.
Northstar’s monetary wellness programme combines a set of instruments and one-on-one monetary advisors to information staff via completely different monetary and life conditions to allow them to put their wage to finest use.
The agency says its common enrolment fee is 50% and that worker members report an 83% common enchancment in monetary stress after assembly with their private Northstar advisor.
The brand new funding will likely be used to develop operations from 18 international locations to greater than 30 by the tip of 2023.
Will Peng, CEO, Northstar, says: “By working with employers, we’re capable of clear up an issue for each the worker and the employer, as work is the choice level for thus many monetary and life decisions. Northstar is bringing various kinds of recommendation beneath one roof: monetary, advantages, fairness, wage.”