Allya closes US$1.4 million to help employees save money

Contxto – Saving money is a priority for many employees, though they can lack the tools to make informed, financially-savvy decisions. But Allya, a Brazilian startup, is swooping in to help, and with fresh funds too.

DOMO Invest recently led a R$7.5 million (~US$1.4 million) investment in Allya.

The funds will help the startup launch another type of service: An assistant that can provide employees with financial advice. Through machine learning, this new product will strive to understand users’ spending behavior and provide appropriate tips.

This product lines up with the startup’s overarching goal to help people save money whether it’s through discounts or sound advice.

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Allya helps HR stay true to its promises

It’s dazzling when HR tells you about its rewards programs and discounts with partnering companies during the onboarding process. So it’s a letdown when later on you try to access those perks and HR is too busy to help.

But that’s because HR Departments have endless to-do lists, and often, managing partnerships with third-party companies isn’t usually a priority. 

Still, employees want the benefits—like discounts at restaurants—their employers originally promised them. So rather than juggling with this problem alongside everything else, HR can outsource it through Allya. 

The Brazilian startup onboards partnerships, manages them, and keeps employees up-to-date on all these benefits via its app.

Discounts and benefit offers can be curated to each user’s location and profile. Whether you’re a gym rat, foodie, or shopaholic, the platform has already connected company employees with multiple big brands in Brazil.

Saving money, a pressing priority?

In January of this year, a survey was released showing that 49 percent of Brazilians wanted to save money in 2020. But for some, Covid-19 has changed their financial plans.

According to a study by the National Confederation of Trade in Goods, Services, and Tourism (CNC), wealthier Brazilian households got out of debt from March to July of this year and opted to save. 

Meanwhile, low and middle-income families are getting further into debt to make ends meet.

Related articles: Tech and startups from Brazil!

-ML