Care.com Partners With Found to Offer Caregivers Financial Tools

Rhea-AI Summary

Care.com, a leading online platform for family care, has partnered with Found, a banking platform for independent workers, to offer caregivers new financial tools. This partnership allows caregivers to create a Found bank account to receive wages, track income and expenses, view financial insights, and manage invoicing. Naaz Nichols, Care.com's Chief Customer Service Experience Officer, emphasized the importance of treating caregivers as professionals by providing these financial tools. Caregivers on Care.com will also have access to a $100 bonus by depositing $1,000 into a Found account within 60 days of signing up.

Positive

• Partnership with Found enhances financial management tools for caregivers.
• Caregivers will have access to seamless wage payments and financial tracking.
• Special access to a $100 bonus for depositing $1,000 within 60 days.
• Support for independent workers aligns with workforce trends towards flexible employment.

Negative

• Financial tools and $100 bonus are only available to caregivers in the US.
• Potential complexity in managing multiple financial tools for caregivers.

AUSTIN, Texas--(BUSINESS WIRE)-- Care.com, the world’s largest online platform for finding and managing family care, and Found, the leading banking platform for the independent workforce, today announced a partnership to provide caregivers with a seamless solution for managing their earnings.

Caregivers on Care.com can now sign up for Found to create a bank account where they can receive their wages and access tools to seamlessly track income and work-related expenses, view financial insights, help with invoicing, and more.

In making the announcement, Naaz Nichols, Care.com’s Chief Customer Service Experience Officer, said, “We believe caregivers should be treated like the professionals they are and providing access to tools that help them manage their finances reflects that belief. Caregivers frequently work for multiple families and can have variable hours so getting paid seamlessly and being able to track earnings is essential. Found is specifically focused on supporting independent workers making them the ideal partner for this new offering.”

Lauren Myrick, CEO of Found, said, “We built Found to provide financial support to a growing portion of the workforce, independent workers, who have historically lacked banking and financial tools that match the flexible nature of their work and income. Caregivers provide us all with such essential support; our partnership with Care will now provide caregivers the support they need for greater economic empowerment.”

In addition to accessing Found’s robust suite of banking and financial tools, caregivers on Care.com will also have special access to a $100 bonus, redeemable upon deposit of $1,000 of earnings into a Found account within 60 days of sign-up*. Found accounts are only available to caregivers using Care.com in the US.

About Care:
Available in 21 countries, Care.com is the largest online platform for finding and managing family care, spanning in-home and in-center care solutions. Since 2007, families have relied on Care.com for an array of care for children, seniors, pets, and the home. Designed to meet the evolving needs of today’s families and caregivers, the Company also offers customized corporate benefits packages to support working families at more than 700 global clients, household tax and payroll services, and innovations for caregivers to find and book jobs. Care.com is an IAC company (NASDAQ: IAC).

About Found:
Found was built to make self-employment and managing independent work easier. With smart business banking and powerful, easy-to-use tools, Found makes managing your finances simpler than ever. The company is backed by $75 million in capital from Sequoia, Founders Fund and Lightspeed.

Found is a financial technology company, not a bank. Banking services are provided by Piermont Bank, Member FDIC. The Found Mastercard ®️ Business debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc. and may be used everywhere Mastercard debit cards are accepted. *To qualify for the $100 bonus deposit $1,000 of earnings into Found within 60 days of account creation. Offer valid for new customers and expires 12/31/25. See full terms here.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240515361799/en/

For Care.com

Natasha Fellion

Manager, Public Relations

Natasha.Fellion@care.com

For Found

Abigail Hale

Head of Marketing

abbie@found.com

Source: Care.com

FAQ

What new financial tools are Care.com offering to caregivers?

Caregivers on Care.com can now create a Found bank account to receive wages, track income and expenses, view financial insights, and manage invoicing.

How does the new partnership between Care.com and Found benefit caregivers?

The partnership provides caregivers with seamless wage payments, financial tracking tools, and a $100 bonus for depositing $1,000 into a Found account within 60 days.

Is the $100 bonus available to all Care.com caregivers?

The $100 bonus is only available to caregivers who deposit $1,000 into a Found account within 60 days of signing up, and it applies only to US caregivers.

What is Care.com’s goal with the Found partnership?

Care.com aims to treat caregivers as professionals by providing them with essential financial tools to manage their earnings and work-related expenses.