What Onsi does

Onsi is a UK-headquartered B2B benefits platform that delivers financial wellbeing products to flexible and gig-economy workforces through platform partnerships. Founded in 2019 (formerly Collective Benefits, rebranded in 2022), the company serves millions of workers across 42 countries through enterprise clients in delivery, logistics, ride-hailing, and healthcare staffing, with named customers including Wolt (240,000+ couriers across 27 countries), Evri (25,000+ couriers), GoPuff, Addison Lee, Elder, Ryde, Locate a Locum, Stuart, and Urban. The platform is organised around four core product modules: Onsi Pay (on-demand wage access), Onsi Protect (insurance including Accident & Sickness, Public Liability up to £5M, and Compassionate & Family Leave), Onsi Reward (savings and discounts marketplace), and Onsi Loyalty (tiered benefits programme). These modules are delivered through the Onsi Platform (employer dashboard), the Onsi App (worker-facing), and a comprehensive REST API supporting member lifecycle management, pay cycle processing, withdrawal intents, tier management, and insurance claims handling.

The technology stack centres on a programmatic API platform with production and sandbox environments, x-api-key authentication, 100 requests/second rate limits, idempotency support, and ISO 4217 multi-currency handling, enabling deep integration with partner HR, payroll, and workforce systems. Insurance products are backed by major reinsurers including Munich Re and Zurich, with the latter also making a strategic equity investment in November 2024. Onsi operates as an authorised insurance intermediary under three regulators: the UK Financial Conduct Authority (Collective Society Ltd, No. 923788), the Danish Financial Services Authority (Collective Denmark ApS, No. 42352985), and the Netherlands Authority for Financial Markets (Collective Netherlands B.V., No. 12049041).

Revenue derives from four streams: insurance premiums (recurring), on-demand pay transaction fees (tier-dependent), marketplace commissions via a pay-per-result model for brand partners promoting to the 600,000+ worker base, and B2B SaaS platform licensing. Pricing examples include £8/month per member for Personal Accident & Sickness Cover and tier-based structures for withdrawal fees. The company is venture-backed by Stride, NFX, and Prosus Ventures (with approximately $22.6M in disclosed funding across 2020-2022 rounds), supplemented by Zurich's strategic investment, and operates with a lean team of 11-50 employees from offices in London and Amsterdam.

Name

Onsi

Legal name

Onsi is a trading name of Collective Society Ltd, Collective Denmark ApS (Onsi Denmark ApS) and Collective Netherlands B.V.

Website

https://onsi.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Onsi is a UK-headquartered B2B benefits platform providing insurance, on-demand pay, savings, and tiered loyalty programmes to flexible and gig-economy workers via partnerships with platform companies in delivery, logistics, ride-hailing, and healthcare staffing across 42 countries.

Ownership category

akta.pro rank

Product category

Employee Benefits Platform

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Insurance and Employee Benefit Funds (5251)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Embedded Payroll, Earned Wage Access & Benefits Finance (FSAGALAI)

akta.pro secondary industries

Benefits Administration & Enrollment Support (BPAAAIAB), International Benefits Administration & Global Benefits Brokerage (BPACAHAG)

Keywords

• Employee benefits platform
• On-demand wage access
• Gig economy insurance
• Flexible workforce benefits
• Financial wellbeing software

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. On-Demand Pay Transaction Fees: Workers access their earnings early through withdrawal intents. Fees are calculated based on the member's tier and deducted from the withdrawal amount. Partners can choose to cover worker transaction fees or pass them onto workers.
2. Insurance Premiums: Onsi provides insurance products (Accident & Sickness, Public Liability, Compassionate & Family Leave) as part of benefits packages to platform partners. Insurance is backed by industry partners including Munich Re and Zurich.
3. Discounts/Savings Marketplace: Card-linked cashback offers and promotional partnerships where businesses pay for results (conversions) when workers use their discounts. Monthly reporting provided to partners.
4. Platform Licensing: B2B SaaS platform licensing for benefits management including member management, tiering, claims processing, and real-time reporting dashboard.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Onsi provides a B2B benefits platform that enables platform companies to offer their flexible/gig workforce on-demand pay (early wage access), insurance (Accident & Sickness, Public Liability, Compassionate & Family Leave), everyday savings and discounts, and tiered loyalty benefits. Delivered through a central management dashboard, REST API integration, and a co-branded worker-facing mobile app, the platform serves as financial wellbeing infrastructure for millions of self-employed workers across 42 countries.

Product overview

Onsi offers a unified benefits platform for flexible workforces, combining four core product modules: Onsi Pay (on-demand wage access), Onsi Reward (savings/discounts), Onsi Protect (insurance), and Onsi Loyalty (tiered benefits). These are delivered through the Onsi Platform (employer dashboard) and Onsi App (worker-facing), supported by the Onsi Marketplace for partner brand promotions. The platform serves millions of workers across 42 countries, providing financial benefits including early wage access, insurance coverage, and everyday savings, all managed through the central platform with API integration capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• Onsi App: Mobile application for workers to access earnings, insurance, and the Onsi Marketplace.
• Onsi Protect
• Onsi Reward
• Onsi Pay
• Onsi Loyalty

Products and services

• Onsi Platform Central management dashboard that enables businesses to control worker on-demand pay, manage worker tiers, handle insurance claims, and access real-time insights and reporting for their flexible workforce. Supports partner setup via API or CSV upload.
• Onsi App Mobile application that enables workers to access their earnings, manage insurance claims, and utilize the Onsi Marketplace for discounts and savings on everyday expenses.
• Onsi Pay On-demand pay (Early Wage Access) solution allowing workers to access their earnings before traditional payday. Enables instant access to wages with configurable withdrawal frequency and optional fee coverage by the partner employer.
• Onsi Reward Savings and discount program offering everyday savings on fuel, groceries, and major brands, along with wellbeing support services and tools to build financial resilience for flexible workers.
• Onsi Protect Insurance products designed for flexible and complex workforces. Includes Accident & Sickness Insurance providing 24/7 protection, Public Liability Insurance up to £5M coverage, and Compassionate & Family Leave lump sum payments.
• Onsi Loyalty Tiered benefits program that rewards worker longevity. Allows businesses to customize benefits by tier (e.g., Silver, Gold, Diamond), offering baseline benefits for all workers with enhanced rewards for longer-tenured employees, including better discounts, lower withdrawal rates, and improved insurance coverage.
• Onsi Personal Accident & Sickness Cover Individual protection product for flexible and self-employed workers priced at £8/month. Provides £40 daily accident pay (up to 28 days after 7 days off work), £40 daily sickness pay (up to 28 days after 7 days off work), £20,000 accidental death cover paid to beneficiary, and £20,000 permanent disability cover. No excess, no hidden fees, flexible cancellation.
• Onsi Marketplace Discounts marketplace accessible to workers featuring exclusive promotions from brand partners. Includes brand feature reels, in-app notifications, newsletters, and competitions, promoting partner businesses to Onsi's worker base.

Quantifiable outcome

• 80% decrease in rider churn
• +5 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• WoltcoreStrategic or Co-development PartnerOnsi provides insurance to Wolt's 240,000+ courier partners across 27 countries. In 2023, Wolt provided €1.1M in financial support to couriers through Onsi's insurance program. Wolt chose Onsi for its global scalability, innovative usage-based pricing, mobile-friendly digital claims experience, and worker-centric approach.
• Munich RecoreStrategic or Co-development PartnerOnsi is partnered with Munich Re as a reinsurer for insurance products. Munich Re provides backing for Onsi's insurance offerings including Accident & Sickness and Public Liability coverage.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• ZayZoon: North American earned wage access provider integrated into payroll and HR platforms, offering early wage access plus financial wellness tools to hourly and gig workers — comparable product scope and target worker persona to Onsi.
• Payfare: Fintech providing earned wage access, prepaid cards and banking-style benefits to gig economy workers (e.g., DoorDash, Uber) — directly comparable business model of delivering financial services to platform-based flexible workers.
• Wagestream: UK-based earned wage access and financial wellbeing platform serving flexible and gig workers through employer and platform partnerships; closest direct competitor to Onsi Pay and the broader benefits bundle in the UK/Europe.
• Float: UK-based EWA provider offering salary advances integrated with payroll for SMEs; competes with Onsi in the UK on-demand pay category with an employer-direct motion.

Broad incumbents

• Paychex: Large US payroll and HR solutions provider that has added financial wellness and on-demand pay features; competes with Onsi for employer wallet share on benefits administration, especially at SMB end of market.
• CloudPay: Global payroll and earned wage access provider serving mid-market and enterprise employers; broader incumbent offering payroll infrastructure with EWA features that overlap with Onsi's on-demand pay.

Emerging players

• Branch: US-based platform offering instant payments, EWA and financial tools to hourly and gig workers via employer integrations; comparable in worker persona and embedded delivery model to Onsi.
• Pinwheel: Earnings connectivity platform providing payroll-linked APIs for income verification, EWA and earned benefit access; overlaps with Onsi's API-first, partner-embedded approach to worker financial data.

Others

• Munich Re: Global reinsurer backing Onsi's insurance products; relevant as a counterparty and ecosystem participant rather than a direct competitor, and a potential benchmark for Onsi's capacity to scale insurance premium volumes.
• Stride: US-based health insurance and benefits broker for self-employed and gig workers; overlaps with Onsi Protect in addressing insurance access for independent workers, though focused on health rather than accident/sickness and liability.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/weareonsi
• Facebookfacebook.com/weareonsi

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds5 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Onsi