Estonian employee financial wellness app Viacurrent secures investment from Amsterdam’s Rockstart

Amsterdam-based Rockstart, the global early-stage accelerator-VC, announced on Wednesday that it has invested in Viacurrent, a Tallinn-based employee financial wellness app.

Additionally, angel investor Kristjan N. joined the round. However, the exact amount of the funding was not disclosed.

Viacurrent: Employee financial wellness app

Led by Hendrik Ojamaa, Arnold Veltmann, Lemmo L., and Johannes Ööpik, Viacurrent enables employees to track completed shifts, access money for hours already worked, and enhance their financial health through their learning hub.

The Estonian company does this by integrating with company time and accounting software.

Based on the salary information, employees can see their earned salary in real time and use up to 50 per cent of it before payday.

Viacurrent funds the salary advances, so the company’s accounting and cash flow remain the same. On payday, the company automatically offsets the employee’s salary by deducting the money already paid to them.

The company claims that flexible pay has proven to improve the financial wellness of frontline workers, leading to better recruitment, retention, and productivity for employers.

Hendrik Ojamaa, CEO and Co-Founder, shares, “We’re thrilled to join Rockstart, helping us achieve our mission to financially include European frontline employees into the society. 

Rockstart is a great partner for helping us do that, with an extensive network across Europe and first-hand experience at scaling early-stage startups into massive companies.”

Rockstart: Empowering purpose-driven founders

Rockstart is an early-stage investor that empowers purpose-driven founders across three domains: Energy, AgriFood, and Emerging Technologies. 

The company invests in early-stage startups from each of the three funds and provides access to capital, market, and expertise by connecting founders with co-investors, mentors, partners, corporates, and the wider Rockstart network.

Rockstart has notable exits such as Wercker, Dan.com, Hubs.Com, Bouw7, iClinic, and Brincr. 

The company has offices in Amsterdam, Copenhagen, and Bogota.

The VC has LPs in its funds, including EIFO, family offices like De Hoge Dennen, large pension funds like APG, and corporates like Arla Foods and Eneco. 

Over the years, Rockstart has co-invested alongside Balderton, EQT, Endit, Astanor, Accel, SET Ventures, AgFunder, and ForwardOne, in addition to many other VCs, informal investors, and CVCs.

Michael Bjørnlund, Managing Partner at Rockstart Emerging Tech, adds, “This Estonian team has a sweet combination of insight to the problem they want to address, grit and founder complementarity. They’ve already gotten off to a great start, and I am excited to be working with them in making smarter payment offerings.”