Salary Finance, a Boston, MA-based global provider of financial education and salary-linked benefits for employees, received $150m in financing.
Community Investment Management (CIM) is providing the financing over the next three years.
The company intends to use the funds to expand access to low-cost loans for working Americans.
Founded in 2015 and led by Dan Macklin, CEO, Salary Finance is an organization that partners with employers to offer financial wellness solutions to employees. A United Way Worldwide corporate partner, the company works with over 600 of the world’s leading employers.