Symmetrical.ai, a blockchain-based algorithmic marketplace for financial products, has raised $18.5 million to help employees retain control over their personal finances. Its technology enables companies to provide employees with salary-on-demand, a feature that fintechs are increasingly exploring. Additionally, it employs its own APIs to assist employers in gaining access to and managing wage information across several jurisdictions and software systems. Target Global led the Series A financing, with participation from Finch Capital, Partech, Market One Capital, and The Inovo Group. The round follows a seed investment led by Global Founders Capital in the summer of 2020. The new capital will be used to expand Symmetrical’s presence in Europe and the United States, as well as hire more people and upgrade its API technology.
Payroll fintech Symmetrical.ai raises $18.5m – AltFi