S.F. startup Finch is developing software to facilitate innovation around employee-related benefits from wages to health insurance to retirement accounts.
A San Francisco startup that's building software to support employee benefits programs has raised $40 million in new funding.
The company was founded by CEO Jeremy Zhang and Ansel Parikh in 2020. They wanted to build software infrastructure to facilitate benefits, but before jumping into human resources-related tech, they were actually building embeddable lending services. Finch works by connecting an HR department's employee data with its benefits providers via application programming interfaces, or APIs.
"Our mission is enabling more innovators to be able to access the underlying employment ecosystem," Zhang said."This ecosystem and the data within the sector is completely blocked in terms of data access, and that can come in the form of maybe pay transparency, maybe employee engagement. … We're seeing this opening of data information and payments within the sector.
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