Z

Zayzoon

www.zayzoon.com link_icon

ZayZoon Company Research Report



Company Overview



Name


ZayZoon

Mission of the Company


Win the war for talent with a platform that measurably improves your employee’s financial wellbeing. By reducing financial stress in the workplace, ZayZoon aims to make employees happier, more productive, and likelier to stick around.

Founding Information


  • Founded: 2014

  • Founders:

  • Tate Hackert (Co-founder and President)

  • Darcy Tuer (Co-founder and CEO)

  • Jamie Ha (Co-founder and CFO)


Key People


  • Darcy Tuer (Co-founder and CEO)

  • Tate Hackert (Co-founder and President)

  • Jamie Ha (Co-founder and CFO)

  • Kristen McGill (CPO)

  • Kenny Doleac (COO)

  • Shannon Dougall (SVP, Marketing)

  • Shubh Sidhu (SVP, Growth)

  • Shayan Rahnama (SVP, Product)

  • Shane Edrington (VP, Sales)

  • Yuval Kordov (VP, Technology)

  • Ali Memon (VP, Solutions Architecture)

  • Garth McAdam (General Counsel)

  • Kike Odunuga (Director, Accounting)


Headquarters


  • US: Suite 300 - 4250 Drinkwater Blvd. Scottsdale, AZ 85251

  • Canada: Suite 1900 - 685 Centre Street S, Calgary, AB T2G 5P6


Number of Employees


  • Employee Count: 100+ across 5 different countries


Revenue


  • Growth: Achieved 1006% growth from 2019 to 2022 (based on Deloitte Technology Fast 500™ and Canadian Technology Fast 50™ program recognition)


Known For


  • ZayZoon is known for financial empowerment, focusing on offering on-demand pay solutions, employee perks, and financial education programs.


Products



Earned Wage Access (EWA)


  • Description: Allows employees to access a percentage of their earned wages anytime, helping to alleviate financial stress and control cash flow.

  • Key Features:

  • Employees can receive wages ahead of the payday without additional cost to the employer.

  • Available payout options: bank accounts, prepaid cards, instant gift cards.

  • Integrates seamlessly with over 130 payroll providers.

  • Supports significant reduction in employee turnover and increases job applicants.


ZayZoon Perks


  • Description: Provides employees with discounts and bonus perks on necessary items like gas and groceries.

  • Key Features:

  • Instant gift cards with up to 25% bonus.

  • The Gas Card offers a 5% bonus and can be used at any gas station.

  • CleverRX card provides up to 80% off on prescription and OTC medications.

  • Savvy tool helps employees save on car insurance.


Financial Wellness


  • Description: Offers a suite of financial education resources aimed at improving employees' financial health.

  • Key Features:

  • Financial literacy educational materials covering topics from budgeting to credit building.

  • Smart insights and predictive analytics for financial planning.

  • Customized alerts to help avoid fees and manage finances better.


Recent Developments



Recent Recognitions and Awards


  • Deloitte Technology Fast 50 Canada (2023): Ranked 21 for rapid growth.

  • Deloitte Technology Fast 500 North America (2023): Ranked 141 on recognizing 1006% growth.

  • Partner of the Year (2023 ADP Marketplace Partner Summit): Awarded for exemplary collaboration.


New Product Launches


  • Connect: Manager platform designed to drive workforce engagement and financial empowerment.

  • Fee-Free Gas Card and Instant Gift Card Payouts: New ways for employees to stretch their wages with added bonuses and fee-free options.


New Features


  • Payout Options: Enhanced flexibility with payout options now including direct bank deposit, prepaid cards, and instant gift cards with bonuses.

  • Financial Wellness Platform: Expanded to provide more educational resources, budgeting tools, and financial planning services.

  • Mobile Wallet Integration: New integration allowing employees better access to perks and wages via mobile wallets.


Partnerships and Collaborations


  • Partnership with Major Payroll Providers: Integration with companies such as ADP, Paycom, Paylocity, Paychex, Ceridian, and more.

  • Collaboration with Insurance Providers: Tools like Savvy to offer cost-saving measures on car insurance.


Employee Feedback and Impact


  • Enhanced Employee Financial Health: Surveys indicate 89% of employees using ZayZoon report less financial stress.

  • Operational Efficiency: Businesses report reductions in absenteeism and turnover, and an increase in job applicants.


Press and Media


  • Recognition in Media: Highlighted in various articles and press releases for innovations and growth in financial technology for SMBs.


Conclusion



ZayZoon is at the forefront of financial wellness for SMBs, providing impactful solutions such as Earned Wage Access, employee perks, and educational wellness programs. With significant growth and reputable partnerships, ZayZoon is effectively enhancing employee satisfaction, productivity, and retention without adding financial burden to employers. This positions ZayZoon as a crucial player in mitigating financial stress in the modern workplace.