Advance

Advance is a Philippine-based company founded in 2019 by Jaime de los Angeles, Addi Guevara, and Stef Lim that provides on-demand access to salaries for employees.

The company partners with businesses to offer their employees access to their earned wages before the scheduled payday, aiming to improve financial wellness and reduce the need for high-interest loans. Advance's platform integrates with a company's existing payroll system, allowing for a seamless and automated process for salary advances.

For businesses, Advance offers a way to enhance employee benefits without impacting their own cash flow, as the service is provided directly to the employees. The business model is based on a transaction fee for each salary advance, which is paid by the employee. In addition to on-demand salary access, Advance also provides credit solutions for businesses to help them manage their working capital and bridge financial gaps.

Keywords: on-demand salary, employee financial wellness, salary advance, credit solutions, payroll integration, B2B2C, fintech, financial services, working capital, employee benefits