Sorbet

Sorbet is a financial technology startup that aims to revolutionize the way organizations handle Paid Time Off (PTO). Founded in 2019 and headquartered in Tel Aviv, with offices in NYC & Kiev, Sorbet recently received a $31.00M Series A investment on 15 December 2021 led by Meron Capital. Sorbet's innovative approach addresses the fact that employees, on average, only use 72% of their PTO, resulting in a substantial $272B annual liability for companies. The platform offers organizations predictive accrual insights, loan refinance flexibility, funding, and infrastructure to reduce PTO liabilities, save costs, predict cash flows, and maximize tax benefits. Furthermore, it allows employees to cash out accrued balances immediately, providing them with a cash benefit. The platform not only helps employers in regaining financial control and flexibility but also supports employees' financial and wellness needs. It enables employees to invest in wellness, travel, and entertainment experiences through a prepaid Visa card, supporting local businesses even during challenging times. Sorbet's disruptive approach presents a $272B opportunity in the market, making it an attractive investment for venture capitalists seeking innovative solutions in the fintech space.