Wollit company logo

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wollit.com

Founded Year

2016

Stage

Seed VC | Alive

Total Raised

$1.3M

Last Raised

$1.3M | 2 yrs ago

About Wollit

Wollit provides a financial solution to the gig economy to average out paychecks and create a simulated 'steady' income.

Wollit Headquarter Location

2nd Floor, Argyle Works 29-31 Euston Road

London, England, NW1 2SD,

United Kingdom

+44 20 8088 9434

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Research containing Wollit

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Wollit in 1 CB Insights research brief, most recently on Mar 9, 2022.

Expert Collections containing Wollit

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Wollit is included in 2 Expert Collections, including Gig Economy Value Chain.

G

Gig Economy Value Chain

155 items

Startups in this collection are leveraging technology to provide financial services and HR offerings to the gig economy industry

F

Fintech

4,779 items

Track and capture company information and workflow.

Latest Wollit News

Startup of the Week - Wollit

Jun 2, 2020

Startup of the Week - Wollit by Startacus Admin Gig worker or on a zero hour contract? Wollit is a FinTech startup that is “on a mission to give everyone access to financial wellbeing” Proponents of the gig economy and zero hours contracts may hail flexibility as being a huge advantage, however that is of course accompanied by major financial challenges. After all, if you are working on an ad hoc basis or have irregular working patterns, this can have a major impact on your finances - the peaks and the troughs. In a bid to help, our latest startup of the week has created an innovative solution. Wollit  is a FinTech startup that is “on a mission to give everyone access to financial wellbeing”. The startup aims to ensure that people on zero hour contracts or undertaking gig work can have a much smoother and stable financial life. To do this, they have created a product called the Wollit Income Promise. In essence, this is the minimum amount of money that they will make sure you have access to each month, thereby helping to regulate your finances. Here’s how it works: Simply enter the amounts of your last three payslips and this will calculate your average earnings - this is your income promise. Each month that you earn less than this average sum, Wollit will offer you a cash top-up to make up the difference. If you have earned £1500 per month on average and then are having a much quieter month where you’re only going to earn £1200, your account will be topped up by £300 to keep things steady. Then, when you’re having a good month and are going to earn more than your income promise, you can repay the top up. The good thing is though that you’ll always be left with at least your income promise. They’ll never deduct the full amount you owe if you haven’t earned more than that in a given month. And you’ll always be given a few days notice before any top ups are deducted from your account Wollit is a subscription service and costs £9.99 per month. It’s a small price to pay for the financial stability that it can bring. And that in turn of course can help in so many other ways. We’ll be interested to see where this startup goes from here and what other innovative products they may introduce in a bid to increase our financial wellbeing. Subscribe to our newsletter If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here. <

Wollit Web Traffic

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  • When was Wollit founded?

    Wollit was founded in 2016.

  • Where is Wollit's headquarters?

    Wollit's headquarters is located at 2nd Floor, Argyle Works, London.

  • What is Wollit's latest funding round?

    Wollit's latest funding round is Seed VC.

  • How much did Wollit raise?

    Wollit raised a total of $1.3M.

  • Who are the investors of Wollit?

    Investors of Wollit include BBVA and Anthemis.

  • Who are Wollit's competitors?

    Competitors of Wollit include Wagestream and 7 more.

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