Why was this startup created?
When we had a client in Vietnam with 5,000 employees we realized that most of the employees didn’t have a bank account. Thus, it took 3 days to distribute cash salaries to all of the employees. When payday arrived, we noticed that strangers were standing in front of the client's factory. We saw that many workers were relying on borrowing money from informal lenders and they were struggling to pay off high-interest debt. We questioned why they were working hard every day, but they ended up being exploited like this. We thought, "What if they could access the wages they worked for when they need to without requiring a bank account?"
We want to create a society that records and rewards the hard work that people do every day by helping workers to tap into their earned wages and gain access to formal and affordable financial services.
Please describe your product or service.
Doreming is one of the 100 Fintechfirms listed by KPMG to promote financial inclusion that currently operates in the US, UK, Japan, India, and Singapore. Doreming provides companies with a cloud-based HR-Attendance-Payroll management software and integrates our system into existing banking systems and payment platforms to allow a company's employees to tap into their unpaid but earned (accrued) wages at any time needed prior to their payday. HR-Attendance-Payroll management is a core value proposition to SMEs, and we are promoting 2 goals in one shot - HR management and financial inclusion.
What is your company's vision?
Our vision is to create a society that allows workers to be happy and productive by empowering HR data. We want people's hard work and performance record to be recognized, evaluated, and rewarded. We believe our HR data can help us to gain access to affordable financial services, benefits, and opportunities for entrepreneurship.
What are your plans or goals for expanding your business over the next year?
Our plan over the next year is to launch our service and secure funds to increase headcounts in order to ramp up our system development, localization, and global expansion.
Why are you joining this app?
Below I will summarize both what we are looking for and what we can offer so that we can collaborate.
What we are looking for:
- Business partners (i.e. bank, payment/e-wallet service provider, money transfer service provider)
- $10 million in funding
- Team members (for various roles)
What we can offer:
- Make introductions to our global connections in the IT, finance, and Fintech fields, particularly in Japan, the UK, the US, Singapore, India, and Vietnam.
- Our cloud-based all-in-one HR-Attendance-Payroll software, which has an over 23-year track record of success in Japan for free.
- Any advice based on our international and startup experiences.
Key people at Doreming