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When you are a freelancer who has to survive from gig to gig, having a sustainable financial solution for emergencies and unexpected expenses is invaluable. Sadly, traditional banks and lending institutions do not extend their offers to freelancers due to the nature of their job that is unstable and unpredictable.
That’s where Friz comes in. As a digital banking solution, this Y Combinator-backed neobank has been making waves in Singapore by offering what others don’t: debit card, credit card and invoicing service that comes with an advance payment feature just for freelancers.
The sign-up process is hassle-free — simply type your email address and continue with Singpass. Your account will be ready in a minute or two, and you can start using your Friz virtual debit card right away. To do so, you need to top up the card via FAST transfer. Once the fund is reflected, you can use it for both online and offline purchases.
But that’s not all, because Friz virtual debit card also comes with 1.75% cash back for all online spends (excluding e-wallet top-ups and AXS transactions).
If you wish to get more funding for your business, you may also opt to sign up for the Friz credit card that comes with a credit line of up to SGD 10,000 with a flat fee of 2% per transaction. To qualify, you need to be a registered business owner and submit your Bizfile and other relevant documentation.
Finally, Friz also functions as an invoicing service with a unique feature of advance payment. The service comes with a fee of 3% for the invoicing service only and 5% for the advance payment. The advance payment helps mitigate situations where clients pay late or not pay altogether as the risk is now transferred to Friz.
That’s where Friz comes in. As a digital banking solution, this Y Combinator-backed neobank has been making waves in Singapore by offering what others don’t: debit card, credit card and invoicing service that comes with an advance payment feature just for freelancers.
The sign-up process is hassle-free — simply type your email address and continue with Singpass. Your account will be ready in a minute or two, and you can start using your Friz virtual debit card right away. To do so, you need to top up the card via FAST transfer. Once the fund is reflected, you can use it for both online and offline purchases.
But that’s not all, because Friz virtual debit card also comes with 1.75% cash back for all online spends (excluding e-wallet top-ups and AXS transactions).
If you wish to get more funding for your business, you may also opt to sign up for the Friz credit card that comes with a credit line of up to SGD 10,000 with a flat fee of 2% per transaction. To qualify, you need to be a registered business owner and submit your Bizfile and other relevant documentation.
Finally, Friz also functions as an invoicing service with a unique feature of advance payment. The service comes with a fee of 3% for the invoicing service only and 5% for the advance payment. The advance payment helps mitigate situations where clients pay late or not pay altogether as the risk is now transferred to Friz.
Targeting Singapore freelancers as viable customers

Mr. Ash Rhazaly and Ms. Nirali Zaveri, Founders of Friz
Friz is the brainchild of CEO and co-founder Ms. Nirali Zaveri (right) and co-founder Mr. Ash Rhazaly (left). During her career with MasterCard, Ms. Nirali had a revelation that compelled her to create an app to help Singapore-based freelancers.
“One of my roles at MasterCard was actually building credit cards for small businesses,” said Ms. Nirali in our interview. “And that’s where I came into contact with a lot of freelancers and, you know, learned about the pain points that they faced in terms of accessing credit cards.”
Her contacts with various freelancers made her wonder why Singapore residents who turned to freelancing as their source of primary or secondary income would be overlooked by traditional banks, so she decided to approach several banks to enquire them about it.
According to her discussion with said traditional banks, their reluctance generally came from their lack of understanding of freelancers. They felt it may take years to study freelancers and determine whether they are viable targets for their banking business. That was when Ms. Nirali believed in freelancers as a customer segment and felt that maybe she should build something with the knowledge she had.
“Change the status quo in terms of how we are dealing with project-based work because, more and more, I see that as a norm for individuals. I think in the future, people are going to be working remotely and not being tied to one company, working on projects that excite them and interest them.”
With that vision in mind, she decided to leave MasterCard to build what would be known as Friz. The journey was not an easy one, because there were so many misconceptions about freelancers that she needed to debunk one by one.
Ms. Nirali elaborated that the common misconception people have about freelancers is that freelancers are lazy or they are just freelancing because they can’t get a job anywhere — that the moment they get a full-time job, they will stop freelancing altogether. Because of this misconception, people think that there is no business to be had with freelancers and that they are not worth lending money to.
“One of my roles at MasterCard was actually building credit cards for small businesses,” said Ms. Nirali in our interview. “And that’s where I came into contact with a lot of freelancers and, you know, learned about the pain points that they faced in terms of accessing credit cards.”
Her contacts with various freelancers made her wonder why Singapore residents who turned to freelancing as their source of primary or secondary income would be overlooked by traditional banks, so she decided to approach several banks to enquire them about it.
According to her discussion with said traditional banks, their reluctance generally came from their lack of understanding of freelancers. They felt it may take years to study freelancers and determine whether they are viable targets for their banking business. That was when Ms. Nirali believed in freelancers as a customer segment and felt that maybe she should build something with the knowledge she had.
“Change the status quo in terms of how we are dealing with project-based work because, more and more, I see that as a norm for individuals. I think in the future, people are going to be working remotely and not being tied to one company, working on projects that excite them and interest them.”
With that vision in mind, she decided to leave MasterCard to build what would be known as Friz. The journey was not an easy one, because there were so many misconceptions about freelancers that she needed to debunk one by one.
Ms. Nirali elaborated that the common misconception people have about freelancers is that freelancers are lazy or they are just freelancing because they can’t get a job anywhere — that the moment they get a full-time job, they will stop freelancing altogether. Because of this misconception, people think that there is no business to be had with freelancers and that they are not worth lending money to.
Joining the prestigious Y-Combinator family

Friz’s Personal and Business Debit Cards
Despite the challenges she faced, Ms. Nirali was adamant in realizing an app that will help Singapore freelancers make ends meet. She ignored the naysayers and pushed through with her co-founder to interview freelancers and understand their pain points. Little by little, their perseverance bore fruit, and Friz was born and operational with prospective companies quickly converting into customers.
And then, an amazing news hit on 12 March 2021. Friz was officially invited to join Y-Combinator, a world-class firm based in Silicon Valley (USA) that funds and mentors promising startups and business ventures.
Asked about her initial reaction at that time, Ms. Nirali shared, “It was definitely super exciting. It’s, like you said, rare for companies in Southeast Asia to get into Y-Combinator… As a female founder, well, I feel like it’s usually difficult for such opportunities to come by. I think about 12% or 11% of the YC community is female founders. So, obviously, that was a personal achievement for me as well.”
She further elaborated, “I think what was very exciting for us was also how we could take the business to the next level in terms of getting the right kind of attention from investors; having that validation from the investor community from a fundraising perspective.”
And then, an amazing news hit on 12 March 2021. Friz was officially invited to join Y-Combinator, a world-class firm based in Silicon Valley (USA) that funds and mentors promising startups and business ventures.
Asked about her initial reaction at that time, Ms. Nirali shared, “It was definitely super exciting. It’s, like you said, rare for companies in Southeast Asia to get into Y-Combinator… As a female founder, well, I feel like it’s usually difficult for such opportunities to come by. I think about 12% or 11% of the YC community is female founders. So, obviously, that was a personal achievement for me as well.”
She further elaborated, “I think what was very exciting for us was also how we could take the business to the next level in terms of getting the right kind of attention from investors; having that validation from the investor community from a fundraising perspective.”
Message for Singapore freelancers
To end this insightful interview, we asked Ms. Nirali to give some messages to Singapore freelancers. This was what she wanted Singapore freelancers to know:
“I would definitely want to really commend them (read: freelancers) for being super brave and for following their passions. I would basically say, hey, it’s super important that you continue to produce good quality of work, but you need a strong foundation in the work you produce — and if Friz can help you take care of your financial health, so you don’t have to worry about basic things; we’re here to help.”
“The other thing is an invitation for freelancers to reach out to us either through our customer service or by emailing us directly from the website. We read every single email, and I personally respond to all of them, so if you have any feedback or any thoughts, we are happy to help with that as well.”
“I would definitely want to really commend them (read: freelancers) for being super brave and for following their passions. I would basically say, hey, it’s super important that you continue to produce good quality of work, but you need a strong foundation in the work you produce — and if Friz can help you take care of your financial health, so you don’t have to worry about basic things; we’re here to help.”
“The other thing is an invitation for freelancers to reach out to us either through our customer service or by emailing us directly from the website. We read every single email, and I personally respond to all of them, so if you have any feedback or any thoughts, we are happy to help with that as well.”