Ualett Partners with Pave to Scale Personalized Cash Advances for Gig Workers

By PR Newswire On Oct 28, 2024

New partnership enhances Ualett’s mission to support gig workers by automating a cash advance experience tailored to the needs and income patterns of independent contractors, helping scale their services seamlessly in a rapidly growing market.

Ualett, a leading mobile app solution offering online cash advances to independent workers in the United States, announced a strategic partnership with Pave, a leader in cashflow analytics, to automate and personalize financial solutions for gig workers. By integrating Pave’s real-time Cash Advance Score and Attributes, Ualett can now tailor advances and remittance schedules to each worker’s specific financial situation, scaling their services while maintaining a personalized user experience.

The gig economy is experiencing significant growth, with over 70 million Americans already participating and projections estimating that gig workers will represent 50% of the U.S. workforce by 2027. As this workforce continues to expand, Ualett’s ability to scale through automation and personalization is critical to meeting the growing demand for flexible financial solutions. The partnership with Pave positions Ualett at the forefront of financial services innovation, enabling more approvals for cash advances with the potential to reduce default rates by up to 50%.

“Our partnership with Pave is a major step forward in Ualett’s mission to provide gig workers with flexible and reliable financial solutions,” said Ricky Michel Presbot, CEO of Ualett. “Pave’s advanced cashflow analytics allow us to offer personalized cash advances tailored to each worker’s income, with the potential to significantly reduce default rates. This partnership empowers us to scale while staying true to our commitment to each worker’s unique financial needs, making financial stability more accessible for all.”

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“Ualett’s mission aligns perfectly with what we’re building at Pave – expanding access to funding for underserved and non-traditional borrowers,” said Ema Rouf, Co-founder and President of Pave. “Through our partnership with Ualett, we’re enabling them to personalize financial solutions by using real-time cashflow insights, allowing them to scale and serve more customers who have been overlooked by traditional models.”

In addition to personalization, the partnership enables Ualett to offer embedded financial solutions that fit seamlessly into the worker’s existing workflows. Much like small businesses—where 7 out of 10 use multiple financial providers—gig workers often juggle various services to meet their financial needs. Ualett’s integrated solutions simplify this process by offering a one-stop platform for accessing advances and managing remittances directly within the app, allowing gig workers to focus on their work without worrying about complicated financial processes.

Key benefits of the Ualett-Pave partnership include:

Personalized advances and remittance schedules based on the worker’s individual income or revenue
Faster and more reliable access to cash, reducing wait times and increasing financial security without added risk
Automated cashflow insights, enabling Ualett to scale its services without sacrificing personalization
Embedded financial solutions, providing a seamless user experience for gig workers accessing and managing advances through the Ualett app

Ualett is a leading financial technology company offering tailored cash advance solutions for gig economy workers, including rideshare drivers, delivery drivers, and small business owners. With over 180,000 users, Ualett is committed to helping independent contractors achieve financial flexibility through personalized, secure financial services that meet their unique needs.

Pave is a data analytics provider for credit risk teams with the mission to increase access to credit for underserved borrowers. Pave’s AI-powered Cashflow Analytics and Scores improve risk models by transforming transaction data, loan performance, and credit reports into Cashflow-driven Attributes and Scores, unlocking access to new customer segments without increasing risk.

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