Lance

Lance has presented 1 V-Sum technical briefing. Lance is a banking app for the 68M independent workers in the US — sole entrepreneurs ranging from Instacart/Uber/Lyft drivers to lawyers, teachers, and NFT creators. Built on Unit for banking-as-a-service and Abound for tax intelligence, Lance tackles the three hardest parts of freelance finance: setting aside taxes, opting into benefits, and building a cash-flow footprint. Onboarding collects standard KYC/KYB plus filer type, state of residence, and a ballpark annual-income estimate — then recommends an allocation across "stacks" (salary, taxes, main expenses, goals). Stacks are Unit-powered sub-accounts delivered to the freelancer from day one instead of year five. Abound dynamically withholds the right tax from each deposit. On the first payment from a new client or marketplace, Lance prompts the user to classify it as 1099, W-2, or personal, so every subsequent payment from that source is taxed (or not) correctly. Virtual and physical cards drop into Apple Wallet, invoices go out in a few taps, and the home screen shows month-over-month income vs. expenses vs. taxes — plus an Abound-generated Schedule C. Crypto investing and a debt-payoff stack are on the near-term roadmap.

Topics: Freelance Finance, Banking-as-a-Service