raises $4.25MM to power hospitality’s future of digital tips, same day pay and financial wellness for hourly workers
Summary
Austin, TX (Jan. 23, 2023) Grazzy, a next-gen employee payments platform, announces $4.25MM in Seed funding from Next Coast Ventures and Tuesday Capital to fuel the rapid expansion and growth of its digital tipping, same-day pay, and better, more inclusive banking capabilities. By putting employee satisfaction at the center of the experience, Grazzy creates happier employees who stay in their roles longer and provide better guest experiences.Today, several of the worlds biggest and most beloved hotel brands are leveraging the Grazzy platform to enable digital tipping, same-day pay, and in-the-moment positive feedback for their team members. The product and the teams proven ability to deliver at scale makes Grazzy the most powerful player in the market today, says Thomas Ball, Co-Founder and Managing Partner of Next Coast Ventures.An extensible platform built to create new earnings and move them instantly for hotels and salons.The Grazzy platform offers the modern familiarity of a P2P payments experience that guests love, but with the enterprise-level branding, compliance and reporting thats required to successfully deliver ROI at scale. None Built for operational scale: Businesses can meet tax compliance, and measure effective wage increases, retention improvement, and overall guest satisfaction all on a single screen.Grazzy provides employees the ability to instantly access their same-day tips from hotels, bars, restaurants, salons and any other service-based businessesTodays increasingly cashless economy has made it challenging for many service-based businesses to tip-out employees at the end of their shift, forcing many to defer tip-outs to weekly or bi-weekly paychecks. Reduced risk: Automated fund transfers at the end of a shift, further reduces the risk involved for businesses who dont want to keep money in a safe to facilitate same-day tip outs to staff.Grazzy provided Hotel Abri and the team with an effective and simple implementation to the cashless tip question we had been looking for during the past 2 years of the pandemic aftermath, said EJ Varela, GM at Hotel Abri Metwest Terra Hospitality, part of HRI Hospitality.