PayActiv Raises $20 Million to Expand Financial Wellness

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PayActiv Raises $20 Million to Expand Financial Wellness

  • Largest provider of employment-based holistic financial wellness services raised fund from Generation Partners in a Series B financing round
  • Promoting its mobile and global holistic financial wellness tools,including bill pay, budgeting & savings tools, discounts, financial counseling & education
  • Created a massive positive impact on the relationship between employees and employers, more than 100 million people do not have $400 in savings to weather even a small financial emergency
  • Settling more than $100 million in earned wage access transactions each month, and the company estimates that employees are avoiding an estimated $10 million each month in eliminated late charges, overdraft fees and interest charges
  • Signed an agreement with Walmart to deliver timely earned wage access to more than 1.4 million associates
  • Use this funding to expand its platform, accelerate growth and focus on developing additional high-impact solutions to the financial problems impacting billions of workers worldwide