CA-based Rain secures $300million in funding. The new credit arrangement was supplied by Clear Haven Capital Management. The company plans to expand its product to more employers who want to implement earned wage access as a benefit, according to the fresh fundraising round.
Operating under the direction of Chief Operating Officer Fred Choquette, Rain provides middle-market and large businesses across the country with employee-focused financial wellness solutions.
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Rain provides the flexibility required for efficient financial management by integrating into any organization’s current infrastructure through a comprehensive range of solutions that includes earned pay access and a variety of financial wellness advantages.
Employees can get daily compensation using its pay-on-demand service, which works similarly to an ATM charge in that there is a modest cost for each transaction. They can manage their money better and steer clear of high-interest loans and overdraft fees thanks to this.
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About Rain
Employers can provide employees with the opportunity to access their earned pay through Rain. This benefit has already been made available to hundreds of global businesses. Their goal is to restore individual freedom by empowering people to manage their money and income. Predatory financial products, such as overdraft fees and payday loans, are being eliminated.
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