https://techcrunch.com/2021/06/24/paid-time-off-startup-sorbet-reels-in-another-15m-inside-three-months/

US/Israeli startup, Sorbet – which helps companies de-risk themselves against accrued paid time off (PTO) by employees — has raised another $15M, in a round led By Dovi Frances’ Group 11, not long after a $6 million seed round only last April.

Sorbet says it removes the burden of PTO from employers, allowing employees to ‘spend’ it in offers and other types of deals, giving employers far more control over the whole process and the ability to forecast ahead. It does this by buying out PTO liabilities from employees and loading the cash value of the PTO on prepaid Credit Cards. It then refinances these liabilities for employers, hence the forecasting advantage.