On The Web

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Domains

Pandemic creates big audience for wage access fintechs

October 28 2020

• in
• Fintech
• Income

“The pandemic has unleashed a boom in US fintech start-ups offering workers early access to their wages, even as questions mount about the impact their business models have on consumers.  So-called earned wage access programs vary in nature, but usually offer workers the option to receive some of their wages outside of the two-week pay […]

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Domains

Apps Will Get You Paid Early, for a Price

October 2 2020

• in
• Income

“Americans have become accustomed to summoning just about anything on demand, from groceries to car rides. Now it’s just as easy to get paid when you want. As the coronavirus pandemic squeezes household budgets, workers and employers alike are increasingly turning to pay-advance apps with friendly-sounding names like Earnin, Dave, Brigit and Rain. They allow […]

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Domains

Papaya Global Raises $40M for a Payroll and HR Platform Aimed at Global Workforces

September 30 2020

• in
• Income

“Papaya Global , an Israeli startup that provides cloud-based payroll, as well as hiring, onboarding and compliance services for organizations that employ full-time, part-time, or contractors outside of their home country, has raised $40 million in a Series B round of funding led by Scale Venture Partners.”

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Domains

Gusto Is Expanding from Payroll Into a Full Suite Financial Wellness Platform

September 30 2020

• in
• Income

“Today, the company announced a slew of new offerings that it hopes will give employees better financial and health options through their employers.   The most interesting one here is a tool the company is calling Gusto Wallet. It’s an app and collection of products for employees paid through Gusto that basically acts as a […]

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Deals

Deel Nabs $30M More for Payroll, Compliance and Other Tools to Run Global Workforces

September 9 2020

• in
• Income

“Today, a startup called Deel — which provides payroll, compliance tools and other services to help businesses do that in a more seamless way — is announcing $30 million in new funding to double down on the opportunity.”

On The Wires

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Domains

Deel Rolls Out New Cash Advance Feature, Allowing Remote Workers to Determine When They Get Paid

October 22 2020

• in
• Income

“Deel , a payroll and compliance platform enabling companies to hire anyone anywhere, today announced Deel Advance , a new feature that allows Deel users to access their earnings up to 30 days in advance, without interest rates or traditional credit scoring. The new feature is the latest addition to Deel’s suite of solutions that make […]

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Deals

Argyle Raises $20M Series A Led By Bain Capital Ventures

October 15 2020

• in
• Income

“Today, most workers do not have open access to their own employment records; there are no national standards on how these records are stored or organized. Opportunities, products, and services are inaccessible because consumers are unable to validate employment information.Argyle is building an access gateway into employment records to change this flawed status quo. Our […]

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Domains

Clair, a Social-impact Fintech Raises $4.5m Seed Round to Disrupt the Payday Lending Industry by Providing Free Instant Pay to Hourly and Gig Workers

October 12 2020

• in
• Income

“Clair, an early stage fintech startup based in New York City, wants America’s 82 million hourly workers and 57 million gig workers to get paid as quickly as Uber pays their drivers today: instantly…With the surge in unemployment brought about by the pandemic, nearly 40% of Americans said they would struggle to cover an unexpected […]

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Domains

PayActiv Users Choose to Access Hourly Wages in Real-Time with Visa Direct Over ACH

August 18 2020

• in
• Income
• Payouts

“Recent data from PayActiv, Inc. (“PayActiv”), a leading provider of employer-sponsored earned wage and tip access, has found that four out of every five PayActiv users prefer to access their funds in real-time, a capability enabled by Visa Direct, Visa’s real-time push payments platform, over all other ways of accessing wages through its solution. Earned […]

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Deals

PayActiv Secures $100 Million of Funding for Employer-Sponsored Financial Wellness Solutions

August 14 2020

• in
• Income

“PayActiv, Inc ., the leading employer-sponsored earned wage access and holistic financial wellness platform, today announced that it has secured $100 million of funding to further its mission of bringing security, dignity and savings to workers.”