Shi, a beginner who offers the wage app integrated by the employer (EWA), coupled with financial drug features such as overdrawal alarms and expenditure trends, has raised $ 75 million in a round of all capital series B.
The round was led by the Prosus with a $ 340 million money rating. Rain plans to use new funds to help it add credit card and saving products on its list, CEO co -founder Alex Bradford, says exclusively Techcrunch.
About 35% of households in the US with annual revenue below $ 50,000 are live payments to pay, from 32% in 2019, for a report (PDF) from the Bank of America published in October.
Populations of pay to pay populations grow with age and may be anywhere in the US, although this report shows that they are the highest in the south. Two -week payments can be difficult to wait when the bills will come every day of the month.
EWA platforms allow employees to get some of their checks early with a small fee and may be less predatory than other Get-Cash methods as high interest loans.
Rain aims to discern his presence and attract employers who want to help employees use the wages earned among their salaries by automation.
“Because we are connected to all the main wage systems and the right time systems, and we built automated tools that make it super easy for us to do employers on board, there is very minimal manual work for employers over the board, and after going directly, there is no difficulty working every day or paying a period to pay for them,” Bradford said.
The Los Angeles -based start -up, founded in 2019, has over 2.5 million employees and distributed over $ 2 billion in salaries, he says. The rain app says this helps employers to keep employees as well.
Rain aims to customers of the middle market and enterprises with over 300 employees. It charges a fee equal to an ATM fee, an average of about $ 3 per transaction, for an immediate transaction. However, employees can also use the free ACH option, which credits their account until the next job.
However, the beginning does not want to be another EWA app in the crowded market. Already offers a financial education portal, one-on-one financial training and a free tax and reimbursement service through April tax resolution provider, says Bradford.
Such services beyond EWA actually make up 70% of its monthly approval level, says Bradford, with EWA with 30%.
“For us, it seems that success over time is that the user needs EWA less and less because they are now saving more and more,” Bradford said.
Serie B funding, which without participation from Nextalia Ventures and Spark Increasing Ventures, and existing Rain investors, including QED, invisus opportunities, and others, will help begin to expand beyond a simple EWA app.
At Q3, the start plans to launch a credit card provided by EWA with a dynamic credit limit based on the obtained wages verified by the employer’s salary systems.
Starting is also working on a product that will later be summarized this year that makes it easier for employees to use their health saving account (HSA) by letting them spend on each card and be refunded. Moreover, it will bring about saving accounts later this year with features including auto savings and rewards.
Rain funding comes amidst signs of a more favorable environment for a Fintech ecosystem that had seen almost flat growth in recent years. Funds including Ribbit Capital are raising more money, while beginnings including Plaid, despite collecting a good $ 575 million round, have seen a decline in their rating-showing a mixed environment in Fintech.
Entrepreneurship funding in Global Fintech companies fell 45% from year to year to $ 50 billion in 2023, with a similar level of funding recorded last year, for Pitchbook data shared with Techcrunch. In 2025 until now, $ 13.1 billion has been raised from the global beginnings of Fintech. However, the average size of the deal has increased 20% from year to year to $ 21.94 million from $ 18.27 million to 2024. Especially in EWA space, enterprise funds also increased 19% from year to year to $ 569 million last year.
Unlike platforms integrated by employers like rain, EWA platforms by employees like Earni have faced strokes by alleged “predatory” loans for the last few months. Rain’s access to enable savings and financial awareness along with EWA provision by employers with automated features helps him stay in good condition.
“Building a more comprehensive platform of wellness financial products will certainly help us accomplish our mission, which is ultimately to help millions of people get on to financial freedom,” Bradford said.
Starting, with 175 employees, is also escalating his market by building a team of sales and investments in the possibility of sales and marketing and channel partnerships. It also plans to invest more in tools to add more convenience to employers managing their services.
In 2023, Rain set up a $ 116 million series funding that included $ 66 million and $ 50m debt.
