Tapcheck, a Los Angeles, CA-based financial wellness benefit company, raised $20m in Series A funding.
The round was led by PeakSpan Capital.
The company will use the funding to expand operations and its business reach.
Led by Ron Gaver, CEO, and Kayling Gaver, COO, Tapcheck provides employee financial wellness and earned wage access platform that works with companies to help workers access their earnings before payday. Available at no cost to employers, the company uses a mobile app to give workers control over their finances, which reduces their stress at home and increases their productivity at work. Tapcheck integrates with over 100 systems including ADP, Paychex, Paylocity and others, and after connecting to an employer’s existing payroll system, it uses the most up-to-date payroll profile information to estimate an employee’s net earnings.
Hundreds of employers offer it to their hourly employees, including the likes of McDonald’s, Jack in the Box, Home Instead and more.