Australian fintech, Deliveroo partner

The food delivery provider has partnered with an Australian fintech app to help their riders during tax time and accrue retirement savings.

Deliveroo partnered with Solo & Smart, a mobile app designed for the self-employed in Australia, offering automatic tax savings and money management features.

Deliveroo and Solo & Smart are hoping this partnership will help tackle tax debt by offering the ability to automatically save a percentage of income to meet tax obligations.

ABS statistics show managing cashflow can be one of the biggest challenges self-employed Australians face, with sole traders having the highest turnover rates of all businesses and landing in debt to the Australian Tax Office.

The partners highlighted the ‘set and forget’ approach and the transferability of the service: riders’ savings will continually and automatically accumulate, regardless of where the user is earning their income.

Money for their tax and other expenses from multiple income streams can all be saved from within a single system, where the user may nominate a percentage of income to be saved automatically for tax, superannuation, or a rainy day.

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Source: Australian fintech, Deliveroo partner | Financial Standard