Vlorish Unveils Comprehensive Finance Platform Tailored for Freelancers
In a bid to streamline financial management for the freelance community, FinTech startup Vlorish has officially launched its all-in-one finance platform designed to simplify bookkeeping, budgeting, and credit scoring models, according to PYMNTS. This pioneering platform aims to cater to freelancers, solopreneurs, independent contractors, and those with side hustles, offering them a convenient solution to effectively manage both personal and business finances from a single location. A mobile application with equivalent functionality is expected to be released later this autumn.
Vlorish Founder and CEO, Farah Ali, expressed the company’s mission, stating, «We sought to create a holistic, efficient, and user-friendly platform that could handle the intricate financial lives of freelancers, solopreneurs, and independent contractors in a single platform.»
The Vlorish web platform comes equipped with a range of features to simplify financial management for freelancers. These include dual budgeting, debt tracking, financial goal setting, investment monitoring, estimated tax calculations, and net worth tracking. By offering these tools, Vlorish eliminates the need for manual bookkeeping or tax preparation services, potentially leading to significant cost savings for its users.
In addition to these essential features, Vlorish introduces two proprietary technologies to enhance its financial management capabilities. The first is «Peer Score,» a peer-to-peer (P2P) financial wellness score that assesses various aspects of an individual’s financial situation to provide a comprehensive view of their financial health. The second is «Taxifier,» a real-time tax estimation tool for federal and state taxes in the United States.
Farah Ali shared her vision for Vlorish, saying, «We envision a world where managing your finances is as simple, secure, and efficient as possible.»
Vlorish joins a growing list of providers offering tools and services tailored for freelancers in response to the evolving gig economy. In September 2022, payments platform Hopscotch introduced «Hopscotch Flow,» a tool enabling freelancers and small businesses to finance invoices with just two clicks, providing users with greater control over their cash flow.
Around the same time, the financial super app Revolut launched «Revolut Pro,» an income, expense, and payment management account designed specifically for self-employed individuals. This account offers customers the ability to manage their business funds without the need for a fully-fledged business account.
In the recent «Consumer Inflation Sentiment Report» by PYMNTS Intelligence, it was revealed that 41% of employed consumers have taken up gig work as a means to combat rising inflation. Even individuals earning over $100,000 per year are actively seeking additional employment opportunities to supplement their income. The freelance market continues to grow, and Vlorish’s new finance platform is poised to play a pivotal role in simplifying the financial lives of those in the gig economy.