Los Angeles-based Rain raised a $75M Series B in another good sign for fintech

Rain, a start with financial health features, such as an employer integrated wage and spending trends, a start with the application of $ 75 million, won $ 75 million.

The round, Port-Port was a process of $ 340 million in a $ 340 million assessment. The rain plans to use new funds to add a credit card and add the product, co-founder CEO Alex Bradford, only refers to TechCrunch.

About 35% of households in the United States pay up to 32% in 2019 with annual income below $ 50,000 report (PDF), by the American bank published in October.

Paycheck-to-paycheck populations rise age and although this report may be the highest in the south, although it is up to age and can be anywhere in the United States. Biewekly salaries can be difficult to expect when any day of the month will be when the bill will be.

EWA platforms may be less predatory to get an early part of employees with a small payment and other than the methods of other receivers, Like high interest-salary loans.

Rain It is aimed at involving employers who want to help you to distinguish the employment and automate employees to achieve their salaries.

“We established automated tools connected to all major salary systems and timekeepeepive-system, and have a very easy to employ employers, and employers have a very minimal hand for employers, and once there is a maturity during the day or maturity.”

Founded in 2019, the Los Angeles-based start, entered more than 2.5 million employees and distributed salaries worth more than $ 2 billion. The rain application says employers help keep employees.

The average market and enterprise clients with more than 300 employees. An ATM fee pays for about $ 3 for an operation, about $ 3 pays a fee for a transaction. However, employees can also use the free AH option that lends their accounts to the next working day.

However, the beginning does not want to be another EWA application in the crowded market. An already financial education portal offers a free tax document and refund service via a financial exercise and taxable provider.

In addition to Ewa, such services are actually, 70% of the monthly adoption rate, Bradford, says by 30% with EWA.

“For us, success in time, it needs less that the user needs less and less, because the user needs more and less,” Brazford.

Balance B, which has the participation of existing investors and sparks and other investors in the rains and other investors, will help further expand the beginning of the simple EWA application.

The beginning of the Q3 plans to start an EWA provided by a dynamic credit limit based on the approved wage from employer salary systems.

Both the beginning, the end of this year allows employees to spend on any card and return the employee’s health saving accounts (HSA). In addition, the end of this year will bring the features including automatic savings and rewards.

The finances of the rain come between the signs of a more favorable environment for a Fintech ecosystem, who sees nearly straight growth in recent years. Funds including The capital of Ribbit gather more money, including beginnings PlaidDespite an increase in a decent sized tour, they saw a decline in their assessment – said a mixed environment in Fintech.

In global Fintech companies, enterprise financing, up to $ 50 billion in 45% in 2023, with a similar financial level, which is a similar financial level, TechCrunch. Since 2025, the global Fintech startups have been raised to $ 13.1 billion. However, in 2027, in 2027, the average transaction size increased by $ 21.94 million in terms of annual compared to $ 2024 million, increased by $ 5.27 million to $ 5.27 million, and in enterprise financing increased by $ 569 million last year.

Unlike the integrated platforms such as the rain, the rain faced EWA platforms such as EVA Allegedly blows from regulators on “predatory” loans for the last few months. With the automatic features, the recruitment helps to ensure the Savings and Financial Informance, in addition to providing EWA on the side of the employer, with automated features.

“The creation of a more comprehensive platform of financially health products will certainly help us to carry out our mission to help millions of people go to financial freedom,” Bradford.

The starting, sales team and sales opportunities and sales opportunities and marketing opportunities and marketing and channel partnerships with 175 employees are also expanding to the market. He also plans to provide more information to add more flexibility for employers who manage their services.

In 2023, the rain raised a number of $ 116 million in a number of $ 116 million worth of $ 66 million in capital and $ 50 million.