Check

Check

Embedded payroll services for software platforms

About Check

Simplify's Rating
Why Check is rated
A
Rated A on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

Enterprise Software

Fintech

Company Size

51-200

Company Stage

Series C

Total Funding

$116.7M

Headquarters

New York City, New York

Founded

2019

Overview

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, leading to increased revenue and improved customer retention. Unlike traditional payroll providers, CheckHQ focuses on partnerships, providing 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 expand their services, generate new revenue streams, and enhance customer engagement.

Simplify Jobs

Simplify's Take

What believers are saying

  • Partnership with Wave expands Check's reach to 300,000 small businesses across the U.S.
  • Fraud protection tools enhance Check's value proposition for small and medium-sized businesses.
  • Novo's integration of Check's API highlights the trend of embedded finance, boosting customer retention.

What critics are saying

  • Increased competition from new entrants may lead to pricing pressures and reduced market share.
  • Managing payroll across 11,000 jurisdictions risks compliance errors and potential legal penalties.
  • Reliance on partner platforms means disruptions could directly impact Check's revenue streams.

What makes Check unique

  • Check pioneered embedded payroll, allowing platforms to create custom payroll services.
  • Check's API simplifies payroll across 11,000 U.S. jurisdictions, reducing administrative burdens.
  • Check partners with leading platforms like Homebase and Bambee, enhancing their payroll offerings.

Help us improve and share your feedback! Did you find this helpful?

Funding

Total Funding

$116.7M

Above

Industry Average

Funded Over

4 Rounds

Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Above Average

Industry standards

$50M
$50M
Medium
$62M
SeatGeek
$75M
Check
$100M
Oura

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.

Growth & Insights and Company News

Headcount

6 month growth

1%

1 year growth

3%

2 year growth

1%
PYMNTS
Apr 4th, 2024
Workflow Automation, Flexible Financing Top This Week In B2B Innovation

It is a testament to the business-to-business (B2B) landscape that firms tend to pivot toward, and not away, from it. After all, you hear a lot more about one-time business-to-consumer (B2C) firms embracing B2B channels than vice-versa. But that doesn’t mean that the B2B landscape, for all its attractions, is an easy one to thrive within. Fortunately, a suite of modern innovations is transforming the landscape by helping B2B firms solve long-standing legacy frictions, as well as keep an eye on what can’t be controlled for — at least not yet. That’s why PYMNTS keeps an ear to the ground, listening for all of the latest initiatives. The top themes we heard this week were around the benefits of workflow automation; the need of smaller firms for flexible financing solutions; and why operational visibility is at its most important when uncertainty is the only certainty

PYMNTS
Apr 3rd, 2024
Wave Teams With Check To Upgrade Small Business Payroll

Payroll infrastructure company Check has teamed with Wave, a money management platform for small businesses. The collaboration, announced Wednesday (April 3), will let the more than 300,000 small businesses using Wave access “full-service payroll functionality” in all 50 U.S. states. “Payroll has long been a growth hurdle for small businesses due to its complexity,” Check said in a news release. “There are 11,000 U.S. payroll jurisdictions, and the administrative burdens that come with proper tax calculation, form filing, and remittance can be stifling for small business owners who are often wearing multiple hats across HR, marketing and more.”

Business Wire
Apr 3rd, 2024
Check To Power Wave’S Expanded Payroll Offering

NEW YORK--(BUSINESS WIRE)--Check, the leading payroll infrastructure company that pioneered the ability for platforms to embed payroll into their products, today announced its partnership with Wave, the one-stop money management platform for small business owners. Over 300,000 small businesses that use Wave will soon have access to best-in-class full-service payroll functionality across all 50 U.S. states.Payroll has long been a growth hurdle for small businesses due to its complexity. There are 11,000 U.S. payroll jurisdictions, and the administrative burdens that come with proper tax calculation, form filing, and remittance can be stifling for small business owners who are often wearing multiple hats across HR, marketing and more. Check’s API abstracts the complexity required to both build and run payroll

Refresh Miami
Jan 30th, 2024
6+ Things To Know In #Miamitech: News Deluge From Sellersfi, Journeytrack, Novo, Emerge Americas, Locality Bank, Apogee Indigo, Social Mobile, Classwallet, Bric & More

1SellersFi now can provide Amazon e-commerce sellers with significant credit linesSellersFi, the Weston-based e-commerce fintech scaleup, today announced a financing solution with Amazon that will provide eligible Amazon sellers with access to credit lines of up to $10 million through Amazon Lending.“SellersFi was launched seven years ago to address e-commerce sellers’ paramount challenge: to secure the right capital to grow their businesses,” said Ricardo Pero, co-founder and CEO of SellersFi. “This relationship with Amazon highlights our dedication to transforming e-commerce financing to empower small and medium-sized businesses with the accessible financial tools they need to focus their energy and aspirations on amplifying their businesses and attaining exceptional growth.”Hurdles that sellers face in building successful online businesses include competition, order fulfillment, visitor conversion, marketing and others. Even when effectively addressing those factors, however, nearly a third of e-commerce startups fail due to running out of money, according to research by Marketing Signals. These lines of credit from SellersFi and Amazon Lending are meant to support sellers experiencing such challenges.SellersFi currently offers working capital, prepaid debit cards and digital wallets with insurance, business credit and debit, and checking accounts in the pipeline.READ MORE: Scaleup SellersFi closes $300M credit facility, plus equity raise from Citi and Mitsubishi2JourneyTrack closes $2 million seed roundAnia Rodriguez and her team have built a SaaS experience management platform to help companies deliver exceptional experiences for their customers. Her startup JourneyTrack enables companies to create personas and end-to-end customer journeys.Refresh Miami reported in October that JourneyTrack had raised $1.5 million in seed funding. Now the Miami based startup has closed its $2 million seed round that was led by Portland-based Elevate Capital and included Orlando-based through DeepWork Capital.“What JourneyTrack does is allows these end-to-end experiences to be understood and tracked and connected across different divisions, which is a huge pain point that exists today,” said Rodriguez, JourneyTrack’s CEO who gained key insights as a longtime user experience consultant for Fortune 1000 companies, told Refresh Miami in an earlier interview

Business Wire
Jan 24th, 2024
Novo Announces Novo Payroll For Small Businesses, Powered By Check

NEW YORK MIAMI--(BUSINESS WIRE)--Novo, the powerfully simple® financial solutions platform for small businesses, today announced Novo Payroll. Working with Check, the leading payroll infrastructure company that pioneered the ability for platforms to embed payroll into their products, Novo has launched a payroll solution that is fully integrated into Novo’s platform of small business banking, budgeting, and working capital solutions, enabling small businesses to manage their finances from a single platform. “Traditional small business payroll solutions consist of standalone applications characterized by high fees, burdensome cash-on-hand requirements, and either clunky or non-existent integrations between payroll and business bank accounts,” said Michael Rangel, founder and CEO of Novo. “In collaboration with Check, we built a payroll solution that simplifies and speeds up the process of paying small business employees.". Novo leveraged Check’s embedded payroll API to build Novo Payroll. With coverage in all 50 states, Novo Payroll streamlines the entire payroll process, from calculating wages to facilitating direct deposits and managing tax withholdings

Recently Posted Jobs

Sign up to get curated job recommendations

Check is Hiring for 0 Jobs on Simplify!

Find jobs on Simplify and start your career today

💡
We update Check's jobs every 8 hours, so check again soon! Browse all jobs →