An app to get paid before payday

According to Palaniappan, there’s no reason people who already have done their work should have to wait several days, or even weeks, to get the money they’ve rightfully earned. So, in May, Palaniappan launched ActiveHours. The Palo Alto startup recently raised $4.1 million.Palaniappan is far from the only entrepreneur who sees opportunity in creating an […]

According to Palaniappan, there’s no reason people who already have done their work should have to wait several days, or even weeks, to get the money they’ve rightfully earned.
So, in May, Palaniappan launched ActiveHours. The Palo Alto startup recently raised $4.1 million.
Palaniappan is far from the only entrepreneur who sees opportunity in creating an alternative to the payday loan. LendUp, for instance, has raised $64 million to offer loans with lower interest rates that become cheaper over time. ZestFinance, launched by an ex-Googler, is similar.
Employees can sign up for Active Hours on their own, providing their bank account number. They use the app to upload a photo of their electronic time sheets (paper time sheets aren’t allowed).