Tongo

Tongo's business model is built around the concept of the "commission economy," a term that refers to professionals who earn their income through commissions rather than a fixed salary. This model is particularly prevalent in the real estate industry, where agents are typically paid a percentage of the sale price of a property they help to sell. Tongo's service is designed to provide these agents with greater financial flexibility and stability by allowing them to access their commission income as soon as it is earned.

The company makes money by charging a fee for its service. However, agents do not have to pay anything until they receive their commission, which aligns with Tongo's mission of helping agents build for the future without accumulating debt. This approach not only benefits the agents by reducing their financial stress, but also benefits brokers by increasing agent productivity.

In summary, Tongo is a fintech startup that provides real estate agents with instant access to their commission income, thereby offering a solution to the financial challenges faced by professionals in the commission economy.