Klinc is a financial services platform aimed at employers, but where the benefit is more evident for its employees, who have access to their daily salary through an app -available for Android and iOS- with which they can make payments with QR codes , withdraw cash and make purchases in shops or on the digital platform, charged to the salary that has already been worked, so that its users would not be getting into debt with any credit instrument.
David Roa, CEO of fintech Klinc explained to Expansión that, despite having started operations just last September, they already have more than forty affiliated companies, serving approximately 5,000 salaried employees.
For Roa, in addition, the employee who does not have stress or financial concerns is an employee with better physical and mental health, which translates into a better work situation. But the fintech does not stop by offering salary advances, Klinc’s services also contemplate a health services membership that is adequately adapted to what the employee earns, instead of dealing with medical expenses insurance with deductibles outside their range. .
For companies, Klinc offers a business debit card with which they can manage operating expenses and access to its platform in case they are a small company and require help with the administration of their collaborators.
Finally, the app also includes a discount club for its users, which grants digital coupons for goods and services with affiliated companies. Although there are no maintenance costs, Klinc’s business model contemplates a fixed commission per transaction, which is paid by the employee at the time of withdrawal.
An important aspect for this service is financial education, which is why personal and professional development courses are integrated into its services, with an emphasis on savings and the importance of the financial well-being of employees. By having access to their salary 365 days a year, users can face emergencies without resorting to debt, and these courses will help them better manage their money.
For employers seeking to comply with the new Official Mexican Standard 035, which seeks to prevent psychosocial risk factors and promote a favorable organizational environment in the workplace, the CEO of Klinc indicated that this platform helps to achieve this, in addition to contributing to a better work environment that directly attacks absenteeism and causes increases in productivity.
Roa plans to have 150,000 users on its platform within a year, and will seek to take this business to different countries in Latin America, since they have a social and economic similarity with Mexico.
According to INEGI data, there are 15 million people in the country who, although they receive a fortnightly salary, it is not enough to cover their basic food needs. And there are already some options on the market, such as Even or Earning, which offer services similar to those of the Mexican fintech.
According to CB Insights, these types of digital financial tools show extensive growth and can become potential unicorns in the short term.