Flexee Group, from the JR Holding portfolio, has an agreement to obtain financing with Koronea P.S.A.

Flexee Group, from the JR Holding portfolio, concluded an investment agreement as a result of which it will obtain financing, and Koronea P.S.A. will acquire 20.6% of shares in Flexee, the announcement said. The JR Holding team actively supported the parties to the transaction in finalizing the contract.

“We are happy to join the group of shareholders. We see the potential of the service and the possibility of quick Flexee integration. Thank you to the Koronea and Flexee teams for great conversations and completing the transaction. I congratulate Mr. Andrzej Nowak on his innovative idea and I believe that together we will be able to accelerate the development of Flexee,” said Michał Wypychewicz, CEO of Koronea Family Office, quoted in the release.

Investment agreement between Koronea P.S.A. and Flexee Group is the result of partnership talks conducted between the Koronea team and Flexee shareholders. Under the agreement, Koronea will issue new shares, purchase some of the existing shares from existing minority investors and provide debt financing. Koronea will achieve a total share in the ownership structure of 20.6%. The new investor will provide Flexee with access to the implementation of the solution in companies from Koronea’s portfolio, which will significantly accelerate Flexee’s development, it was also reported.

“I am very happy to welcome such a significant investor as Koronea among Flexee’s shareholders. Our cooperation not only means dynamic growth for Flexee, but also guarantees the ability to service very large clients employing thousands of employees who cannot always wait for payment of their salaries,” said Andrzej Nowak, CEO and founder of Flexee.

As indicated, the service offered by Flexee is consistent with the “salary on demand” trend popular in English countries. The company’s application is addressed to those who need funds before the salary payment deadline, regardless of the type of contract concluded with the employer. The service provides immediate access to the money you earn for every day of work, which means you can withdraw money earlier on request, without having to wait for payday. Funds appear in the employee’s bank account even a few seconds after clicking the “Withdraw” button.

“The Flexee application is based on the latest technologies and security systems used by banks, and the entire process is fully automated, which means that it does not require additional work of the HR and payroll team on the user’s side. Withdrawn funds and fees are settled when you receive your regular monthly salary. Fast, user-friendly and automated processes, low risk of default and the ability to scale the service for many users simultaneously mean significantly lower customer service and acquisition costs. Thanks to this, Flexee is able to provide its services much cheaper than financing options currently available on the market, such as bank loans or payday loans,” we read further.

“We congratulate Flexee and Koronea on the transaction and we keep our fingers crossed for further acceleration of the company’s development as a result. We believe that support from Koronea for a company from our portfolio will contribute to common business success,” added investor and president of JR Holding ASI January Ciszewski.

Flexee provides an application that gives users (employees of Flexee’s clients) access to remuneration in real time, i.e. it enables payment of money for each day worked, regardless of the type of contract the employee has concluded with the employer.

JR Holding ASI is a company listed on the NewConnect market since 2012, focusing on investment activities and involvement in companies from the following industries: digital business, renewable energy sources, computer games, medical, biotechnology and modern media.

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