Salaryo, a NYC-based fintech platform for U.S. freelancers and startups, raised $5.5m in debt and equity funding.
Backers included Ruby Ventures, which provided the debt financing, and Michael Ullmann’s investment group, which supplied the equity.
The company, which has raised $6.3m in total funding to date, plans to use the capital to scale its digital lending service.
Led by Yair Levy, CEO and Co-Founder, Salaryo provides a digital lending service for entrepreneurs and freelancers to over 500 coworking office locations across 20 new cities including Washington DC, Austin and Denver.
Salaryo provides security deposit financing for new coworking office members and a flexible credit line for existing shared office tenants. Since launching its offering in 2018 in New York City, the company has provided hundreds of entrepreneurs and freelancers with access to shared workspaces including WeWork, Industrious, Office Evolution, The Yard and others.
The platform features an automated experience that analyzes a tenant’s identity, lease, financial and professional information to make a decision in minutes. Once approved, Salaryo sends funds to the workspace and the tenant can move in within 24 hours.
The company, which graduated from the Barclays Techstars fintech accelerator in 2017, also has an R&D center in Tel Aviv.