Grazzy
Headquarters: Austin, Texas
CEO: Russ Lemmer
Website: Grazzy
Founding date: 2021
Investment: $6.8 million
Grazzy helps hourly employees make more money, access it the
same day and save and spend in better ways.
By improving financial wellness
for front line workers, Grazzy reduces the cost to recruit and retain talent at
hotels, bars, restaurants and salons. Our extensible payments platform enables
digital tipping, instant tip-outs and inclusive banking solutions, all built
to scale with hospitality and services businesses of any size.
PhocusWire coverage
Strategic goals for 2024
In 2024, the Grazzy team will grow to support the
accelerating interest in digital tipping and same-day access to earnings.
Service workers at hotels, bars, and restaurants — even salons and car washes —
are enjoying effective wage increases because their customers can use Grazzy to
leave a tip when they don’t have cash. For businesses, better pay for staff
means employees stay in roles longer, reducing the cost of recruiting and
retention.
Lessons learned since founding
Cash might be dying, but gratitude definitely isn’t. We’ve
probably all been in a situation now where we want to give someone a tip, but
we’re left patting our pockets and feeling a little guilty instead.
Grazzy
enables digital tips in situations where you want to recognize someone’s effort
to serve you. That’s important because service workers often depend on tips,
but also because the gratitude that a tip represents connects us to the people
who solve our problems.
On the more technical side, we’ve also learned that
accepting tips is easy, but making the process really, really simple is the
hard part. We have to solve problems around security, compliance, taxes and so
much more, but doing so delivers huge value to the businesses that trust us to
power digital tipping.
Grazzy makes it simple for customers to give a tip,
simple for businesses to pay out to employees, and simple for employees to
access and spend the money they earn. In turn, employees are earning more and
staying at jobs longer, and businesses are spending less time and money trying
to fill empty roles. And the rest of us don’t need to pat our pockets and
apologize anymore — leaving a tip with Grazzy is simple.
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