B9, Inc.

B9, Inc. is a financial technology company that provides innovative solutions for early access to earned wages and cash back rewards, catering to diverse earners in the workforce. Founded in 2020, B9, Inc. is based in San Francisco, US.

The company focuses on financial technology solutions, primarily enhancing cash flow for various earners. Sergio T, also known as Sergio Terentev, serves as the CEO and founder. The firm has raised a total of USD 2. 6 mn through a Seed funding round on July 29, 2022, led by Skylight Investments, with additional participation from Mbanq.

B9 offers a range of financial technology solutions that focus on providing early access to earned wages and cash back rewards for diverse earners, including salaried employees, freelancers, gig workers, and those relying on government benefits. Their core offerings include the B9 Advance service, which allows users to access up to USD 750 of their earned but unpaid wages per pay period upon setting up a direct deposit to their B9 Account. Additionally, users benefit from a B9 Visa® Debit Card that provides up to 5% cash back on eligible purchases across selected spending categories. The service aims to address the financial challenges faced by over 70% of American workers who experience delayed payment cycles, thereby improving their cash flow and reducing reliance on costly lending products.

B9's products are available primarily in the United States, targeting urban areas with significant gig economy participation and workforce diversity. B9 generates revenue through its subscription model and transaction-based services. Clients who maintain a direct deposit of over USD 5,000 per month can access the B9 service at no subscription fee, while those under this threshold may incur nominal charges. The company facilitates cash flow through its B9 Advance service, where clients can request cash advances against their paychecks, further enhancing its transactional revenue.

The B9 Visa® Debit Card not only serves as a payment method for users but also drives revenue through cash back offerings, which are funded through partnerships with retailers. This structure positions B9 as a direct-to-consumer service, allowing it to effectively engage with its user base while offering financial products tailored to their immediate and long-term needs. In July 2022, B9, Inc. raised USD 2.

6 mn in Seed funding led by Skylight Investments, with participation from Mbanq and individual investors. The company plans to utilize this funding to hire more employees and further develop its platform's features. B9 is focused on expanding its services into new markets, particularly targeting urban regions with high gig economy participation. Upcoming product launches are also in the pipeline, aimed at enhancing user engagement and financial support.