Employer-sponsored financial wellness provider
Job no longer available
Employer-sponsored financial wellness provider
201-500 employees
Job no longer available
201-500 employees
To regrow individual freedom by giving people control over their income and finances.
Desirable
Financial difficulties continue to be a leading cause of employee stress, and waiting for payday can cause periods of cash drought where workers are vulnerable to overdraft fees and predatory lending. Rain provides employees with access to an amount of their earned wage, which is reimbursed by employers per their regular pay cycle.
Although paying employees more often seems a solution to the payday problem, it is often too demanding for payroll departments, and brings associated costs that companies would rather avoid. Rain is free to employers who offer it as a benefit for their employees, and it integrates with payroll systems easily. Instead of paying high interest on a payday loan, employees pay a small fee for the transaction when they access pay before payday.
Rain is backed by QED, an active investor in income streaming, which has invested in companies such as Credit Karma and ClearScore. The company has secured impressive investment that will fund its continued US expansion, further develop technology and infrastructure, as well as contribute to increasing marketing efforts.
Freddie
Company Specialist at Welcome to the Jungle
Mar 2023
$66m
SERIES A
Dec 2020
$8.6m
SEED
Oakwood, Los Angeles, CA
Alex Bradford
(CEO)Co-founder of Mosaic and BIG. Former CEO/Founder at Voyager Global Advisors.
Gilberto Garcia Jr
(Chief Architect Officer)Former Software Developer Consultant with Ascendant Compliance Management. Previously worked as Senior Scala Developer at Burner (Ad Hoc Labs).
Jen Terrell
(VP Employer Partnerships)Former VP Sales with Groupon. Worked at LivingSocial for 5 years including as Head of Local North American Sales division.
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