1/ “What important truth do very few people agree with you on?”
Peter Thiel’s famous question. At Check, our founding answer was that payroll today is fundamentally broken for a huge number of businesses.
I’m so glad that the 1 in 3 US startups that now bank with Mercury don’t have to jump through the hoops I had to. They can just use Mercury Payroll right out of the box, with a seamless payroll and benefits experience, all AI-enabled and connected directly to their bank account.
Yesterday @mercury announced $1B ARR. Today they are launching payroll, powered by Check.
This one is extra special to me because Check’s first ever bank account was on Mercury way back in 2019.
Back then we hadn’t yet built money movement capabilities, so I would log into Mercury every week and manually move the money around for payroll, based on the amounts our fledging system had calculated.
@jgreze Preach! Trust me, we’ve tried and you definitely don’t want vibe coded payroll. Lots of platforms and agents do and will use infra like Check though, which handles all the regulatory complexity, and then customize the front-end for their own workflows
@jasonlk Flexibility. Check is infrastructure you build on, that has been built for this purpose from day one. Our competitors are typically traditional payroll companies attempting to distribute white-label products or, best case, slowly externalizing infra not meant for this purpose
$4.1 billion. That's how much payroll Check processed on behalf of our partners in 2024.
For context, that's 3x more than our nearest competitor — Gusto Embedded — has processed in their entire almost four year history.
And we're just getting started.
https://t.co/x0RrvmDvvC
5/ Today, we’re excited to unveil a completely reimagined Check, with a new look and a renewed focus on the incredible stories of our 65 platform partners.
Embedded payroll is the future.
https://t.co/HVxovSy3VA
1/ “What important truth do very few people agree with you on?”
Peter Thiel’s famous question. At Check, our founding answer was that payroll today is fundamentally broken for a huge number of businesses.
4/ Our partners are leading that movement, powering payroll for the businesses that keep our world running:
Construction workers, plumbers, electricians, daycares, auto shops, farms, restaurants, healthcare providers, Main Street retailers, and so many more.
“After decades in the restaurant industry, I've learned how important it is to have access to the right tools. Workstream is the only payroll and HR platform I've seen that's built specifically for hourly workers." - Don Fox, former CEO of Firehouse Subs https://t.co/yARBiAeo1K
The only two non-AI opportunities Bessemer calls out for vSaaS companies in their State of the Cloud 2024 report released today are:
1. Payments (those guys at Stripe might be onto something)
2. Payroll!🚀🚀🚀
3. Everyone knows fintech is big, but people are sleeping on employee management. I see this in Check's partners. The platforms who help manage their customers' teams are absolutely crushing it.