28 Dec 2020

Meet our Autumn 2020 Teams: Balance

By Will Spurr

Meet Balance, who are on a mission to build a fairer financial system for the underserved.

Balance helps employees take control of their earnings and level the playing field for low-income workers to avoid debt, save and budget stress-free. It works by providing employees with access to pay on demand – rather than waiting for payroll. This allows them to prevent going in overdraft when faced with unexpected or ill-timed expenses, allowing them to budget in real-time and to avoid expensive credit lines to make ends meet. This is especially pertinent for low income workers, who often pay a poverty premium by being unable to finance unexpected costs. 

Beyond the real-time access to pay, Balance offers a coaching-centered approach to reducing financial stress, improving financial education and even scanning options for reducing recurring expenses. This benefits employees by empowering them to circumvent short-term pitfalls and to strive towards long-term financial health. It also benefits employers: specifically, it is an efficient means of improving the wellbeing of employees – and therein reducing turnover and boosting productivity – whilst also being able to pinpoint best practices in allocating responsibilities and pay. 

Balance was created by entrepreneurs Varun Bhanot and Sunil Jindal. Through their work at a previous startup, they noticed that – for all the specialism of their employees – there was frequently a gap when it came to financial education. Moreover, discussing financial wellness is often seen as a taboo subject, despite a strong interrelation between the subjects. 

To keep in the loop with Balance’s work, head to their website, follow them on Twitter and reach out to Varun and Sunil. They’re currently prioritising onboarding new client companies and will value connections with Hiring, Payroll, HR or Wellbeing managers who may be interested in using this tool to empower their workers. 

If you’d like to meet the teams of our Autumn 2020 cohort, then sign up to our Showcase event