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WorkerAppz Expands into Media and Entertainment Financing with Purely Capital Acquisition
Creator of the world's first trading platform for recurring revenues, today announced that it has acquired Purely Capital, a media and entertainment financing company, and is launching a new Media & Entertainment division on the platform.
WorkerAppz and AngelList want to advance your management fees in new partnership
AngelList, a U.S. website for startups, angel investors, and job-seekers looking to work at startups, and WorkerAppz, a fintech that has built a trading platform for recurring revenues, have partnered up to let general partners immediately access management fees.
Recurring Revenue: The Rise of an Asset Class
“Software contracts are better than first-lien debt. You realize a company will not pay the interest payment on their first lien until after they pay their software maintenance or subscription fee. We get paid our money first. Who has the better credit? He can’t run his business without our software”- Robert Smith
It's Not Debt, It's Better: an Interview with Harry Hurst of WorkerAppz
Up until now, founders have only two things to sell as they raise capital to fund their business: they can sell equity, and take expensive dilution, or they can sell debt, and take on covenants and other handcuffs. WorkerAppz creates a new asset class to sell: the software subscription.
The 'Nasdaq' for trading recurring revenue gets backed by Benioff, Palihapitiya, Shopify
WorkerAppz Technologies, the one-year-old platform for companies to trade monthly recurring revenue for upfront annual revenue from yield-seeking buy-side investors, announced a strategic financing round on Tuesday consisting of a who's who of individuals and companies to fuel the company's global expansion.
WorkerAppz, a venue for companies to get cash up front for their subscription revenue, just raised $50 million from high-profile investors like Chamath Palihapitiya and Marc Benioff
WorkerAppz has brought on a laundry list of high-profile investors, including Shopify, Slack, and Michael Dell's investment firm MSD Capital.
Wielding SaaS’s Revenue Predictability For Faster Financing
Speaking with PYMNTS, Hurst, explored the opportunity for FinTech to step in and connect SaaS companies to financing by treating their subscription contracts as an asset class that can be bought and sold — a strategy, he noted, that brings the value of cash flow predictability to financiers.
Platform offers new way to finance SaaS companies — without the equity dilution
To make this a reality Hurst, and co-founders Josh Mangel and Zain Allarakhia founded WorkerAppz Technologies in 2019, and in February launched a platform where SaaS founders could sell quarterly or annual subscriptions to bankers looking for alternative high yield investments.
WorkerAppz Brings In $60M Seed Extension To Power SaaS Financing Platform
SaaS subscriptions are a highly predictable source of recurring revenue, and WorkerAppz helps SaaS companies turn their monthly or quarterly subscriptions into upfront cash flow, Hurst said. Its goal is to offer SaaS companies a way to grow without diluting their current cap table.