Rain, a leading earned wage access (EWA) and financial wellness platform integrated with employers, has announced a $75 million Series B equity funding round. The investment was led by global tech investor Prosus, with participation from Nextalia Ventures, Spark Growth Ventures, and returning backers including QED and Invus Opportunities.
Founded in 2019, Rain has grown rapidly by helping workers access their wages on-demand, bypassing the constraints of traditional pay cycles. With over 70% of U.S. households living paycheck to paycheck, Rain offers an alternative to high-cost financial products like payday loans, overdraft fees, and credit card debt—empowering employees to meet immediate needs without falling into financial traps.
The newly raised capital will be used to expand Rain’s go-to-market capabilities and introduce new financial wellness tools for both employees and employers. Currently integrated with nearly every major payroll and timekeeping system in the U.S., Rain streamlines implementation for businesses and offers a seamless experience for users.
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“Rain is building the employee engagement app of the future centered around financial wellness. Rain makes it easy for employers to give their employees the freedom to access and manage their earnings on their own terms. Thanks to the support from Prosus, Nextalia and other investors participating in this round, Rain is in a strong position to scale to thousands of new employers and millions of new employees across the U.S.,” said Alex Bradford, Co-Founder and CEO of Rain.
The platform is already used across a broad range of sectors—including healthcare, retail, hospitality, manufacturing, and quick-service restaurants—serving over 2.5 million employees and processing more than $2 billion in earned wage payouts since inception.
Employers partnering with Rain report substantial improvements in hiring and retention: job applications can rise by over 200%, monthly productivity increases by 20 hours, and turnover drops by 46% within six months.
“Rain provides a solution that empowers workers, helps businesses thrive, and plays a fundamental role in this shift in workforce dynamics,” said Ali Esfahani, Head of Americas Investments at Prosus. “We believe in their vision and are excited to be part of this journey as they continue to grow their business.”
Beyond EWA, Rain’s platform includes a broad suite of financial tools such as deposit accounts, debit cards, bill reducers, overdraft avoidance features, AI-powered financial guidance, tax support, coaching, and employer messaging. The company also has plans to introduce savings and credit solutions later this year.
Attilio Mazzilli, Co-Head at Nextalia Ventures, added, “Rain has shown tremendous growth in terms of both acquiring well-known brands as customers and significantly expanding its impact on employees with a continually developing suite of powerful financial wellbeing tools beyond EWA.”
Following a historic $116 million Series A round in 2023, Rain’s latest funding round further solidifies its position as a transformative player in HR and financial tech—working to reshape how workers engage with and manage their earnings.
