Heru (Value added services for gig economy workers using Open Banking)

Heru (Value added services for gig economy workers using Open Banking)
Description

Heru provides a suite of financial products for gig economy workers (Uber drivers, food delivery workers, etc.). Their products include working capital credit, insurance and automated tax filing. It partners with gig economy platforms to offer these.

The company uses Open Banking account aggregation to consolidate transaction data from users' banks and gig economy platforms to provide these services seamlessly.

For its unbanked users, it uses alternative data sources, e.g. Uber or Rappi payouts and earnings. PS: These data sets are not  availed under Open Banking legislation, they're market-led).

Phase
Live
Industry
Finance
Niche
Gig economy worker