Trezeo

Trezeo was a financial services provider specifically targeting the growing segment of independent contractors, gig economy workers, and the self-employed in the United Kingdom. The company was founded in 2016 by Garrett Cassidy and Flavien Charlon. Cassidy, who served as CEO, brought over two decades of financial services experience from roles at Bank of Ireland, Ulster Bank, Goldman Sachs, and as European Managing Director at Circle. This extensive background in banking, payments, and technology directly informed Trezeo's mission to address the financial instability often faced by those with irregular income streams.

The core of Trezeo's business was to provide a financial safety net and smooth out income volatility for its clients. Operating on a subscription-based model, the company charged a weekly membership fee rather than interest on advances. Its main service used AI and machine learning to analyze a user's earning patterns and calculate their average income. When a client earned more than their average, the surplus was set aside. Conversely, if their earnings fell below the average due to slow work periods, illness, or taking time off, Trezeo would top up their pay to the calculated average, with the advance being repaid from future earnings. This created a more predictable and stable cash flow, akin to a traditional salary.

The platform functioned as a business account that provided users with a digital payment account to manage their finances. Beyond income smoothing, Trezeo expanded its offerings to include product 'bundles' such as personal accident and disability insurance, sick pay, medical support, and access to discounts. The firm was authorized by the Financial Conduct Authority (FCA) as a registered payment institution and lender. Trezeo gained support from notable partners, including Barclays through the Techstars accelerator program. A significant milestone occurred in December 2021 when the European fintech company Monese acquired Trezeo to expand its own push into credit and lending services for customers with non-traditional income patterns. As part of the acquisition, Trezeo's team was integrated into Monese, with Garrett Cassidy taking on the leadership of Monese's credit strategy.

Keywords: income smoothing, gig economy finance, self-employed banking, freelance financial services, fintech, financial safety net, Monese acquisition, Garrett Cassidy, Flavien Charlon, digital banking, independent contractor finance, financial stability, FCA authorised lender, UK fintech, subscription finance, payment platform, credit and lending, personal accident insurance, sick pay for freelancers