Bitcoin payroll partnership with Heroes

RNS Number : 8100A

Mode Global Holdings PLC

07 February 2022

 

Mode Global Holdings PLC

("Mode" or "the Company" or "the Group")

Mode announces Bitcoin payroll partnership with ecommerce firm Heroes

● Deal with ecommerce firm Heroes will allow employees to take salary in Bitcoin

● Mode's innovative payroll platform will deliver Bitcoin to employees' wallets

● Heroes to be one of the first companies in UK to be offering to pay its employees in Bitcoin

Mode Global Holdings PLC (LSE:MODE), the LSE-listed Fintech Group, today announces it has entered into a partnership with technology-driven ecommerce platform Heroes, which will enable employees of the firm to take some of their monthly salary in Bitcoin.

Mode's payroll offering allows interested employees the option to invest in the crypto asset on a monthly basis, which means they can ride the monthly fluctuations in price and invest steadily in the world's most popular digital asset.

As an innovative and fast-growing business which has recently undergone a series of successful fund raises and is backed by 360 Capital Partners, Fuel Ventures and Upper90, Heroes is looking to use Mode's platform as an additional benefit for its employees.

Once employees make the decision to receive a portion of their salary in Bitcoin, they will receive their Bitcoin salary straight into their Mode wallet, which is a secure and FCA registered Bitcoin wallet.

The move highlights the expanding #PayMeInBitcoin movement and follows the partnership between Mode and payroll supplier PayEscape in November 2021.

Recent research of Bitcoin investors commissioned by Mode showed that 76% of UK respondents would be interested in an automated Bitcoin investment when receiving their salary, increasing to 81% of 25-34 year olds.^[1]

Commenting on the partnership, Rita Liu, CCO at Mode, said: "We are delighted to be working with the Heroes team to bring their employees an innovative and secure way of investing in Bitcoin for the longer term through our payroll product. They are a great example of forward-thinking employers who answer to increasing demand from the employees' community to be paid in digital assets."

Giancarlo Bruni, Co-founder and CFO at Heroes, said: "We are very excited about the partnership with Mode, which through their Bitcoin payroll platform allows us to offer something very unique and innovative to our employees. Being able to receive salaries partly in Bitcoin has been very well received and adds another string to the bow of benefits available to our employees."

ENDS

Press contacts:

Milo Larkin, MRM

020 3326 9926 / 07471 351 584

[e-mail] 

Notes to Editors

About Mode: 

Mode is an LSE-listed fintech company on a mission to build the world's most disruptive ecosystem where exchanging value and growing wealth is seamless for all. Mode is leveraging the power of Bitcoin and Open Banking to deliver on this mission and offer customers in the UK a one-stop app to shop, earn and grow their Bitcoin, all in one place. For businesses, Mode provides a cheaper, safer and smarter alternative to card payments that rewards shoppers with Bitcoin Cashback. 

To learn more, visit our customer/business site at www.modeapp.com or our investor site at www.modeplc.com.

Heroes Press Contact:

Maria Galofre, Head of Branding

[e-mail]

[phone]

About Heroes:

Heroes was founded in London in 2020 and is a technology-driven e-commerce company that acquires, operates and scales consumer brands with category-winning products on global marketplaces. Heroes is backed by institutional investors including 360 Capital, Fuel Ventures and Upper90.

For more information, visit https://www.makeheroes.co/.

 

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[1] 251 Bitcoin adopters in the UK were surveyed by Censuswide between 26 November and 1 December 2021.

 

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