Back in August 2019, we wrote about Joust when the fintech startup raised $2.6 million seed round for the nation’s first banking platform for freelancers, entrepreneurs and the self-employed workers. Today, Joust announced the launch of a new banking app for freelancers & self employed workers.
The new app has a modern, intuitive re-design, and a slate of new, consumer-driven features — with additional features releasing throughout 2020. Based on customer feedback, these new features include an analytical dashboard, Joust Visa debit card management, invoice creation/payments, and more. Joust will continue to release a host of new app features throughout 2020.
In addition to these new features, the Joust app will continue to boast its invoice-guaranteeing product, PayArmour™, which funds unpaid client invoices, and its FDIC-insured bank account combined with a merchant account.
Founded in 2017 by Lamine Zarrad and George Kurtyka, Joust is the nation’s first all-inclusive banking platform for independent professionals. It serves freelancers, contractors, and self-employed workers in all 50 states. Joust helps its users handle invoices and payments and provides protection against late or missed payments. The round was led by PTB Ventures and also included Accion Venture Lab, the seed-stage investment initiative of global nonprofit Accion; Financial Venture Studio; and Techstars. The funds will support Joust as it expands its platform to serve the growing freelance workforce segment.
“We are thrilled to announce our new app. Since our beta launch, we have kept a steady eye on our users and really dug deep into our product feedback,” says Joust’s CEO and Co-Founder, Lamine Zarrad. “Our users are risk-takers who want one place to easily manage their finances — so they can have the time and space to focus on their passions. They wanted a modern, streamlined user experience, ways to quickly visualize their finances, and manage clients, income and payments. Basically, they want one business platform that helps them from point A to Z. Our new app does that and will continue to do so throughout the year.”
Currently, the U.S. has 57 million freelancers, and by 2027, more than 50% of the country’s workforce is expected to freelance in some capacity (Upwork & Freelancers Union, 2019). This rapid increase in independent workers has given rise to a range of new financial needs — including managing clients, accepting a range of payments (e.g. credit card payments), and mitigating the risk of irregular income. The Joust app was created to solve these workers’ often overlooked financial and banking needs.
The new app design is clean, intuitive and aspirational, giving users the flexibility and ability to navigate easily from one function to the next. The customizable dashboard includes bank account analytics, client management, invoice features, and bill pay services. Launched in 2019, the Joust Visa debit card can also be managed within the app.
Read more at TechStartups.