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Check

Check

Provides embedded payroll services for software platforms

About

CheckHQ offers embedded payroll services tailored for software platforms in the fintech sector. Their primary product is a payroll system that can be integrated into existing software, allowing businesses to create and manage their own payroll services. This integration helps platforms like Homebase and Housecall Pro enhance their offerings and retain customers by providing payroll solutions directly to their users. Unlike traditional payroll services, CheckHQ focuses on partnerships, supplying the necessary back-end technology while the partner platforms handle the customer-facing aspects. This approach enables quicker market entry and scalability, making it easier for platforms to add payroll services without significant upfront investment. The goal of CheckHQ is to empower software platforms to generate new revenue streams and improve customer engagement through their payroll solutions.

Company Stage

Series C

Employees

51-200

Industries

Enterprise Software, Fintech

Total Funding

$119M

Headquarters

N/A

Founded

2019


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Simplify's Take

What believers are saying

  • Partnerships with platforms like Wave and Novo expand CheckHQ's reach to over 300,000 small businesses, enhancing its market penetration.
  • The introduction of fraud protection tools and embedded support services positions CheckHQ as a comprehensive solution provider, reducing risks for its partners.
  • CheckHQ's recent $35 million Series B funding from Stripe and Thrive Capital provides a strong financial foundation for future growth and innovation.

What critics are saying

  • The complexity of integrating payroll services into diverse software platforms could lead to technical challenges and delays.
  • The competitive fintech landscape, with established players like ADP and Gusto, may limit CheckHQ's market share and growth potential.

What makes Check unique

  • CheckHQ's embedded payroll system allows software platforms to integrate payroll services seamlessly, unlike traditional payroll providers that offer standalone solutions.
  • The company's focus on partnerships with software platforms enables rapid market entry and scalability, setting it apart from competitors who build end-to-end solutions in-house.
  • CheckHQ's API abstracts the complexity of payroll, including tax calculations and compliance, making it easier for small businesses to manage payroll without specialized knowledge.

Growth & Insights
Headcount

6 month growth

1%

1 year growth

17%

2 year growth

53%

Benefits

Home office stipend: $1k stipend for your home office setup, and $100 per month for internet and cell.

PTO & sick leave: Recharge and stay healthy with flexible PTO and sick leave.

Learning budget: Buy books, take classes, and attend conferences with a $2k per year learning budget.

Weekly pay: Every Friday is payday! Just one perk of being your own payroll provider.

Paid family leave: 16 weeks of paid leave for new parents and flexible return-to-work options.

Health benefits: High quality health, dental, and vision insurance coverage.

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