Irish-founded fintech firm Trezeo kicks off £400,000 campaign

Company will focus on UK market initially

Irish-founded fintech firm Trezeo has kicked off a campaign on crowdfunding platform Seedrs as it seeks to raise more than £400,000 to develop its products.

The company, which is focusing initially on the UK market, aims to deliver financial stability to self-employed workers, with an income smoothing business account that will give customers a regular defined income every month.

The company’s product will allow self-employed people to get a weekly pay cheque based on average annual income. The service uses artificial intelligence and machine learning to work out a level of reliable and regular payments for customers.

On the months that actual earned income falls below this level, Trezeo will provide small loans to customers, which the company says are effectively interest free and a repaid over time. It charges a subscription fee to clients every month.


When income is above the average threshold set, customers can build up their savings for later use, which could help customers in future with making tax payments.

Trezeo co-founder Garrett Cassidy thinks there is a significant market out there for the company’s product – especially with the growing gig economy. He said the vision was to provide a product for self-employed workers that provides the certainty and support that other workers get from employers.

The number of people self-employed in the UK has grown significantly in the past few years, and estimates put the current figure at almost 4.8 million. An RSA study estimated that 1.1 million work in the burgeoning gig economy.

Mr Cassidy said Trezeo would concentrate on the UK initially, due to the market size and opportunity, although he concedes that Brexit had made them "think long and hard". The firm has a payments licence and is about to receive its consumer credit licence. There are no plans to launch in Ireland yet.

The firm has already raised more than a quarter of its target on Seedrs.

“Crowdfunding was always attractive to us because we are consumer focused,” said Mr Cassidy. “It’s also helpful in the UK markets in raising our profile.”

The company plans to use the funding to extend its pilot test of its products. If it reaches the target, it may receive further funding from Enterprise Ireland, Mr Cassidy said.

Trezeo has been two years in development. The company was founded by Mr Cassidy and chief technology officer Flavien Charlon.

Ciara O'Brien

Ciara O'Brien

Ciara O'Brien is an Irish Times business and technology journalist