Amsterdam-based Rockstart, a global accelerator-VC, has announced its recent investment in Viacurrent, an Estonian financial wellness app targeting employee financial health. This investment marks Rockstart’s commitment to empowering early-stage startups across Europe. Additionally, angel investor Kristjan N. participated in this funding round, though the exact amount was not disclosed.
Viacurrent, led by Hendrik Ojamaa, Arnold Veltmann, Lemmo L., and Johannes Ööpik, offers employees the ability to track their completed shifts and access earned wages before payday through advanced salary mechanisms. By integrating with company time and accounting software, Viacurrent provides real-time salary information and allows employees to utilize up to 50 percent of their earned wages before the official payday. The company funds these salary advances independently, ensuring that the employer’s accounting and cash flow remain unaffected. Previous reports and similar announcements have highlighted the benefits of flexible pay systems, suggesting improvements in employee recruitment, retention, and productivity.
Viacurrent: Enhancing Employee Financial Health
Viacurrent’s model aims to improve the financial wellness of employees by offering more flexibility in accessing their earned wages. According to the company, this system can significantly enhance financial inclusion and overall satisfaction among frontline workers. CEO and Co-Founder Hendrik Ojamaa expressed enthusiasm about partnering with Rockstart to further Viacurrent’s mission, leveraging Rockstart’s extensive network and expertise in scaling startups.
“We’re thrilled to join Rockstart, helping us achieve our mission to financially include European frontline employees into the society. Rockstart is a great partner for helping us do that, with an extensive network across Europe and first-hand experience at scaling early-stage startups into massive companies.”
Rockstart: Supporting Early-stage Startups
Rockstart, known for its investments across energy, agrifood, and emerging technologies, provides startups with essential resources such as capital, market access, and industry expertise. With successful exits like Wercker and Hubs.Com, Rockstart has established itself as a significant player in the venture capital landscape. The company’s reach extends across Amsterdam, Copenhagen, and Bogota, supported by large pension funds, family offices, and corporates like APG and Arla Foods.
Rockstart’s collaboration with various co-investors and mentors has enabled it to nurture startups effectively, creating a robust startup ecosystem. Managing Partner Michael Bjørnlund commended the Viacurrent team for their insight and determination, expressing optimism about the potential for smarter payment solutions.
“This Estonian team has a sweet combination of insight to the problem they want to address, grit and founder complementarity. They’ve already gotten off to a great start, and I am excited to be working with them in making smarter payment offerings.”
Overall, Viacurrent’s innovative approach to employee financial wellness positions it as a promising startup in the fintech space. Rockstart’s investment further solidifies the accelerator’s commitment to fostering purpose-driven startups. As the trend towards flexible pay systems gains momentum, Viacurrent’s model could lead to significant advancements in employee satisfaction and financial stability. This partnership could pave the way for more startups addressing real-world financial issues for frontline workers.
