Rain’s $75M Series B Signals Growth for Employer-Focused Fintech
Los Angeles-based fintech startup Rain has raised \(75 million in an all-equity Series B funding round, led by Prosus at a \)340 million post-money valuation. The company plans to expand its financial wellness platform beyond its core earned wage access (EWA) offering.
Addressing America’s Paycheck-to-Paycheck Crisis
With 35% of U.S. households earning under $50,000 living paycheck to paycheck (up from 32% in 2019, per Bank of America research), Rain provides a critical financial lifeline. The platform enables employees to access earned wages before payday through:
- Instant transfers (average $3 fee)
- Free next-business-day ACH transfers
- Automated integration with major payroll systems
“Our employer-integrated approach minimizes manual work while giving employees flexible access to their earnings,” explains co-founder and CEO Alex Bradford.
Beyond EWA: Building Comprehensive Financial Wellness
Rain differentiates itself in the crowded EWA market by offering:
✅ Financial education portal
✅ One-on-one financial coaching
✅ Free tax filing services (via partner april)
✅ Upcoming HSA management tools
Notably, 70% of Rain’s monthly adoption comes from these supplemental services, with only 30% attributed to core EWA functionality.
Strategic Growth Plans
The Series B funding will accelerate:
Product Expansion:
- EWA-secured credit card (Q3 launch)
- Savings accounts with auto-save features
- Enhanced HSA spending flexibility
Market Scaling:
- Sales team expansion
- Marketing and channel partnerships
- Employer management tooling
Fintech Funding Trends
Rain’s successful raise comes amid mixed signals in fintech investment:
- Global fintech funding dropped 45% YoY to $50B in 2023
- 2025 has seen $13.1B raised to date
- Average deal size increased 20% to $21.94M
- EWA sector funding grew 19% to $569M in 2024
Regulatory Advantage
Unlike consumer-facing EWA platforms facing regulatory scrutiny, Rain’s employer-integrated model provides:
- Automated wage verification
- Transparent fee structure
- Financial education components
“Our mission is helping millions achieve financial freedom,” Bradford emphasizes. “Success means users need EWA less as they build savings.”
With 2.5 million employees served and $2B in wages distributed since its 2019 founding, Rain demonstrates how fintech can address real financial pain points while building sustainable business models.
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