Sky Systemz is launching a new application that looks to offer businesses access to all of their finances on one platform.
The Lexington, Kentucky-based software-as-a-service fintech company announced the upcoming launch of SkyFi, a mobile checking account feature, on Monday. The app, releasing Dec. 11, is primarily for businesses and entrepreneurs, but the company also plans to offer a consumer checking account feature, scheduled for release in the first quarter of next year, according to a news release.
"Mobile business checking accounts are changing the game for financial management, and at Sky Systemz, we have developed a platform that is fast, innovative, easy to navigate, and pays you for your spending," said Brian Nichols, Sky Systemz CEO, in the release. "With the launch of SkyFi, we have simplified the process of staying on top of finances with checking solutions that benefit users and their businesses."
Sky Systemz's new service aims to provide a straightforward mobile business checking account that gives users access to ACH deposits, wire transfers and physical and virtual debit cards, the release continued. Users can also set up multiple checking accounts in the system based on spending needs like vendor pay, payroll and marketing spend.
With the SkyFi app added to its suite of business software, Sky Systemz seeks to be a one-stop-shop that offers everything business owners and entrepreneurs need to manage their business and finances from a mobile device, the release states.
As I previously reported, Sky Systemz has charted big growth this year by offering all-in-one business services, such as digital payments, invoice and chargeback protection. The company, founded in 2017 by Nichols, had grown to more than 60 employees and $9 million in revenue as of October.
In a previous interview, Nichols said the company will look to hire between 70 and 80 people in the next year, which earned it the recent recognition as finalist in the Job Creators category of KY Inno's inaugural Fire Awards. The company has been bootstrapped thus far, but it is raising a $20 million round of venture capital to aid in future growth.
"We don't want to be a $10 million business. We want to grow this into an organization with hundreds of millions of dollars in revenue and billions of dollars in value," Nichols said in a previous interview. "We feel like we have a good opportunity to do that with a very clear demand and solving a very obvious problem."
