The funding round was led by PTB Ventures, with help from Accion Venture Lab, Financial Venture Studio and Techstars.
Founded by Lamine Zarrad and George Kurtyka in 2017, Joust aims to help independent professionals find more financial stability and avoid late payments amid the irregular payment system for freelance work. The bank guarantees invoice payments and has a “PayArmour” feature for same-day funding, which is available as an app in Google Play and the Apple App Store.
“We are so excited to partner with PTB Ventures, Accion Venture Lab, Financial Venture Studio and Techstars,” Zarrad said. “At Joust, we understand the growing market of self-employed workers, freelancers and small businesses, and their need for an all-in-one banking solution –especially one that gives them the same benefits enjoyed by major corporations. Our platform not only saves time, but also reduces uncertainty and mitigates the risk of late and non-payment.”