Hi55 Ventures joins Microsoft for Startups to unlock growth potential

By Sunniva Kolostyak

London-based FinTech Hi55 Ventures has been selected to join the global Microsoft for Startups programme, gaining access to technologies and a partner network that will support successful scaling.

The platform helps companies unlock fast, affordable working capital and pay employees more flexibly through payroll – and is now hoping to accelerate its growth by using Microsoft’s Azure platform.

Through the programme, Hi55 will be able to scale and enable continuous innovation while ensuring its systems can continue to proactively safeguard its clients’ data.

Backed by IT company NTT DATA, Hi55 enables organisations to rethink payroll entirely and offer an alternative employee benefit by giving them easier access to earned pay. Employees can access their salary free of charge in real-time, helping to increase their financial freedom and flexibility and reduce the potential reliance on high-rate borrowing.

Hi55 is also aiming to deliver positive social impact and is accredited as a Social Enterprise by Social Enterprise UK and has pending B-Corp status.

David Brown, founder and CEO of Hi55 Ventures said: “Hi’s partnership with Microsoft marks the next step in our ambition to reinvent pay. Our goal is to create a new range of products that will serve the needs of millions of people around the world as they win financial freedom from monthly pay.

“However, we will only be successful if we scale sustainably. With 95 per cent of the Fortune 500 hosting their data on the Azure cloud I have great confidence that Microsoft’s leading infrastructure and expertise will be a new cornerstone in our effort to grow and develop.”

Andrew Macadam, Global Field Lead at Microsoft for Startups said: We’re excited to welcome Hi55 as part of our growing programme. We set up Microsoft for Startups so that we could support the best in class achieve their growth ambitions. We’ve been impressed at how the team at Hi55 are revolutionising the pay market and helping to improve financial wellbeing for employees and employers. We look forward to supporting their ambitious growth plans.”