February 2, 2024 News

We are adding the Czech company Advanto to the BONDSTER platform offer, which brings a revolutionary solution in the field of financial care for company employees. Through its application, people can get their pay whenever they need it.

Czech startup Advanto was founded at the beginning of 2020. The company has introduced a unique application to the market that allows employees to easily get paid for days worked whenever they want without waiting for the regular pay date.

Apart from getting the finance they need, employees can also track their earnings in real-time or improve their financial literacy through money management tips and tricks. Advanto also brings benefits for employers as the possibility of getting paid at any time is considered a very popular employee benefit. Thanks to the possibility of getting paid at any time, companies register up to 30% more applicants, it is easier for them to retain key employees, and employees are also more motivated to fill shifts.

Employees can withdraw up to 80% of their earnings for the time worked whenever they want and pay a fee of 2 to 3 EUR per transaction. This way, Advanto serves as an emergency wallet for employees, which they can tap into, for example, at the moment of unexpected financial expenses. The employer is charged a service fee of €1 per user. Advanto provides companies with revolving financing for 4 to 6 weeks with 0% interest. 

INVEST

There are over 50,000 employees who can use Advanto through their employer, and the application currently counts over 15,000 registered users. Today, the application is available in the Czech Republic, Slovakia and Poland, and the company intends to expand to the German market in the near future.

Advanto has a well-diversified portfolio with no significant exposure to a single employer. It cooperates with medium and large companies such as KFC, Starbucks, COSTA COFFEE, BURGER KING, MARKS & SPENCER, NOTINO, Delivery Hero, Rohlik.cz, Škoda and ORLEN Unipetrol. 

Shortly after its founding, Advanto attracted a number of investors. In 2020, for example, it received an investment of several million from the venture capital fund Nation 1, and a year later another investment from the V-Sharp Alpha fund. 

The CEO of startup Advanto is Martin Fortelný, who used to work at CreativeDock, the Bentley car company and startups in Europe and Asia. He is responsible for the overall operation of the company, compliance, strategic direction, relations with investors and the recruitment of key employees.

Bondster’s analyst team has assigned Advanto a B rating.

Author of the article: Roman Muller

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