Earned wage access whenever they do well: Advanto has been introduced in Bageterie Boulevard, Notino and other companies. The automotive industry is also newly represented

Earned wage access whenever they do well: Advanto has been introduced in Bageterie Boulevard, Notino and other companies. The automotive industry is also newly represented

Every few weeks, a new big employer who, thanks to Advant, will allow its workers to collect earnings whenever they want. Startup Advanto thus continues its dynamic growth, which has been marked by the past year.

Since the beginning of this year alone, nearly 10,000 working people have been given access to the Advanto app. They do not always have to wait for the payout on the monthly deadline, but they can send it to their account in parts according to their discretion and needs.

"We are very pleased with how the first quarter of this year turned out. We have introduced Advanto for example in Batist Medical, Notino perfumery or Bageterie Boulevard restaurants. We have also entered the automotive industry and are approaching our goal of becoming the standard on the market within 3 years," says Martin Fortelný, founder and CEO of Advanta.

Lack of materials, components and people is changing the approach to paying wages

Among the manufacturers of parts for the automotive industry, Advanto has introduced three companies for its employees, namely domestic plants belonging to the Japanese companies Fuji Koyo, Koito and German Grammer. The startup is in talks with other manufacturers and expects to partner with up to 10 other employers in this segment of production in the second quarter.

"This is clearly a trend that is associated with the turbulent times that automotive and its workers are experiencing," comments Fortelný and adds that despite this, the main criterion for which the vast majority of companies introduce payouts at any time is support for recruitment and, for existing ones, bridging the period of accelerating inflation.

This is confirmed by HR manager Martin Kuržeja from Grammer: "Above all, we want to prevent employees from getting into executions by having to borrow from various non-banking institutions at high interest rates, for example, when their washing machine breaks. We hope that by refreshing the offer of interesting benefits, Advanto will help us retain existing employees and attract new ones," he explains.

Lenka Kubánková, HR Manager at Fuji Koyo Czech, adds that employees themselves began to show interest in more frequent salary payments several years ago. "Our system allowed the withdrawal of only one deposit per month due to the administrative burden. When we learned about Advant, which guards everything for us, the decision was quick," says Kubánková. Advanto, after connecting to payroll and attendance systems, works automatically and the money that people send through the application is currently financed by the startup from its own resources. Even if all employees collect their paycheck every day, nothing changes for employers using Advanto and they only come to terms with it at the end of the month.

Advanto has had a successful year and an even more successful year ahead of it

But the popularity of payouts at any time is far from limited to the manufacturing industry. In February, Advanto also entered into cooperation with Crocodille, which operates the Bagaterie Boulevard and Pizza 360 restaurant network.

"We are currently in advanced negotiations with hundreds of other employers who have been intrigued by the benefits of introducing paychecks at any time," says Fortelný.

According to Fortelný, one of the milestones of this year will be the expansion to Slovakia, where some of the companies that already offer Advanto in the Czech Republic operate. "Our partners are negotiating with us that they want to offer Advanto to their employees in Slovakia, which we want to make possible for them this year. However, we are already preparing to expand to other countries," says Fortelný and adds that he wants to expand the application this year with a new responsible financial service.

He founded Fortelný Advanto together with Jan Kölbl at the beginning of 2020 and soon managed to become pioneers in providing solutions for anytime payout. Last year, it was introduced by companies such as Lagardère (Burger King, Costa Coffee, Relay), Delivery Hero (We Give Food), Srovnejto, Rohlík and others. Hand in hand with this, the number of Advanto users increased month after month: in 2021, it multiplied seven times in total. As a result, the monthly yield increased forty times over the past year.

What is Advanto?

Advanto is a smart app that allows employees to access a portion of their earned wage at any time and, in just a few clicks. It helps companies improve recruitment, reduce turnover and increase employee loyalty.

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