Rain, a Los Angels, CA-based financial wellness platform, raised $300M in financing.
Clear Haven Capital Management provided the new credit facility.
With the new round of funding, the company will be able to scale this offering to even more employers seeking to adopt earned wage access as a benefit.
Led by Fred Choquette, Chief Operating Officer, Rain specializes in employee-centric financial wellness solutions, serving middle-market and enterprise organizations nationwide. Through a comprehensive suite of offerings, including earned wage access and an array of financial wellness benefits, Rain integrates into any organization’s existing infrastructure, providing the flexibility essential for effective financial management. Its pay-on-demand feature allows employees to get paid daily by paying a small fee with each transaction, similar to an ATM charge. This offers them control over their finances and helps them avoid overdraft fees and high-interest loans.
FinSMEs
07/02/2024