PayActiv, a financial wellness platform that helps staff access wages, has secured $100mn funding.
In Brief:
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This was PayActiv’s Series C round.
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It was led by Eldridge and included existing shareholders.
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PayActiv already serves 1000 businesses including large companies like Walmart.
What does this mean?
PayActiv says that by allowing employees to access their wages as they earn them, it will make people feel more secure and dignified and boost savings. PayActiv says that being paid on a weekly or monthly cycle will soon be a thing of the past.
