What does Rain do?
Rain offers an employer-integrated earned wage access (EWA) and financial wellness app designed to help middle-market and enterprise organizations provide flexible, effective financial management solutions for their employees.
How much did they raise?
The company secured $75M through its Series B equity round, with the investment led by Prosus and participation from Nextalia Ventures, Spark Growth Ventures, and existing backers, including QED and Invus Opportunities.
What are their plans for the money?
With this new capital, Rain plans to expand its operations and accelerate development efforts, aiming to enhance its suite of financial wellness offerings and extend its reach nationwide to improve employees' access to essential financial services.
What have they achieved so far?
Since its launch in 2019, Rain has successfully onboarded over 2.5 million employees and distributed more than $2 billion in earned wages, establishing itself as a leader in employee-centric financial wellness solutions.
