Tongo Experiences Continued Momentum in 2024, Grows Real Estate Agent Customer Base by 179%

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NEW YORK--(BUSINESS WIRE)--Jan 22, 2025--

Tongo, a company dedicated to building financial products that finally meet the needs of the commission economy, announced 179% year-over-year growth in 2024 compared to 2023, driven significantly by the expansion of its platform offerings.

In September, Tongo introduced its Financial Benefits Platform, designed to help real estate brokerages support their agents in achieving financial wellness. The platform, combined with Tongo’s industry-leading Commission Line of Credit (CLOC), which allows agents to access future commissions up to 60 days early, has enabled brokers to offer their agents a single financial platform for automated budgeting, flexibility to manage monthly expenses and invest in business growth during gaps between commission payouts.

"Tongo’s growth reflects the increasing demand for financial solutions that address the unique challenges faced by commission-based professionals," said Brandon Wright, CEO and cofounder of Tongo. "Real estate agents often lack the financial stability and benefits salaried professionals take for granted. With tools like our Financial Benefits Platform and Commission Line of Credit, we're bridging the gap to help agents achieve financial wellness and build long-term equity in a way that's tailored to their needs."

Continued Momentum
Tongo exhibited steady growth throughout 2024, with:

• 179% growth in agent members
• Millions of dollars of commissions were distributed through the first payroll platform for the commission economy
• Solidified relationships with top US brokerages that represent more than 40% of the agent population
• 100% retention on Tongo’s recently launched Financial Benefits Platform
• Tongo CEO Brandon Wright spoke with Edward Cohen, host of the Tangent Podcast, on the company's origins and challenges facing today's real estate and financial services markets. Additionally, Tongo’s Chief Product Officer, Anna Kinney, sat down with Richard Juknavorian, host of the Meeting You Where You’re At podcast, to discuss her career journey and experience as a woman leader in FinTech.

ABOUT TONGO
Tongo builds financial products that meet the needs of the commission economy. The traditional banking system was designed for salaried workers, while commission-based workers are a massive, underserved, and growing segment of the US workforce. Tongo believes everyone deserves access to convenient and tailored financial solutions to help them thrive professionally and personally.

View source version on businesswire.com:https://www.businesswire.com/news/home/20250117876817/en/

CONTACT: Sofia Chevez

Senior Account Executive, Marino PR

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: TECHNOLOGY CONSTRUCTION & PROPERTY FINANCE BANKING OTHER TECHNOLOGY PROFESSIONAL SERVICES SOFTWARE OTHER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: Tongo

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PUB: 01/22/2025 09:00 AM/DISC: 01/22/2025 09:02 AM

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