I’m thrilled to share some major news in the fintech space. Rain, a Los Angeles-based startup I’ve closely followed, has just raised a $75 million Series B round—an all-equity deal that pushes its post-money valuation to $340 million. The round was led by Prosus, with participation from Nextalia Ventures, Spark Growth Ventures, and existing investors like QED and Invus Opportunities.
This latest round is a huge validation of Rain’s mission to provide earned wage access (EWA) and financial wellness tools for everyday workers. I believe this move not only supports a more stable financial future for employees but also shows growing investor confidence in responsible fintech innovation.
Why Rain’s Model Stands Out in the Fintech Crowd
Earned wage access is gaining traction as a smarter alternative to high-interest payday loans. I appreciate Rain’s employer-integrated model, which makes it easier for companies to help employees access wages they’ve already earned—without the need for disruptive third-party platforms.
As CEO Alex Bradford told TechCrunch, the platform is fully integrated with major payroll and timekeeping systems. That means onboarding is seamless, and once live, there’s hardly any day-to-day work required by employers. This automation is a big win for HR teams, and I see it as a key factor in Rain’s rapid expansion.
Impressive Numbers: Millions Served and Billions Distributed
Since its founding in 2019, Rain has onboarded over 2.5 million employees and distributed more than $2 billion in earned wages. That's incredible scale for a company still relatively early in its journey. And it’s not just about access to pay—Rain also offers tools to help users manage their money better.
Currently, Rain charges a small fee per instant transaction (about $3, similar to an ATM fee), though users can also opt for a free ACH transfer. What caught my attention is that 70% of Rain’s monthly product adoption comes from services beyond EWA, such as financial coaching, tax filing through partner April, and educational tools.
A New Chapter: Credit Cards, HSAs, and Savings on the Way
Rain is far from finished. The company plans to launch a credit card in Q3 2025 that's secured by a user's earned wages and has a dynamic credit limit. This could be revolutionary for users who struggle to qualify for traditional credit.
They’re also working on new products that make Health Savings Accounts (HSAs) easier to use, allowing people to spend with any card and get reimbursed quickly. I’m particularly excited about their upcoming savings accounts, which will include auto-save features and reward incentives.
As someone passionate about responsible financial tech, I love how Rain is working toward reducing the need for EWA altogether by helping users save and plan better. Bradford puts it perfectly: “Success for us is when users need EWA less because they’re saving more.”
Fintech Market Outlook: Mixed Signals, but Signs of Recovery
This Series B funding comes at a time when global fintech is still recovering. In 2023, venture funding for fintech dropped 45% year-over-year to $50 billion, and we saw similar numbers into early 2024. But there’s light at the end of the tunnel—deal sizes are increasing, and platforms like Rain are attracting significant attention.
According to PitchBook, the average fintech deal size grew by 20% year-over-year in 2025. Even more encouraging, the EWA segment itself saw a 19% growth in funding last year, signaling a shift toward smarter, ethical wage access tools.
Regulatory Spotlight: Why Employer-Integrated EWA Is the Future
Not all EWA platforms are created equal. While employee-side solutions like Earnin have faced scrutiny over predatory practices, Rain’s employer-first model offers transparency and compliance by design.
This matters more than ever. Regulators are cracking down on products that look like loans but aren’t labeled as such. Rain is clearly trying to build trust and credibility by bundling EWA with education and other responsible finance tools.
What’s Next for Rain: Scaling the Mission
With this new funding, Rain will scale its go-to-market efforts by growing its sales team, building new marketing and channel partnerships, and investing in automation for employers.
Bradford says the ultimate goal is to put millions of Americans on the path to financial freedom—and honestly, I believe they’re on the right track.
Having raised a $116 million Series A back in 2023 (including $50 million in debt), this Series B feels like a solid continuation of the startup’s long-term vision. Rain isn’t just about early access to wages; it’s becoming a full-service financial wellness platform.
As someone watching the fintech industry evolve, I find Rain’s approach refreshing and deeply impactful. It’s not just about solving a short-term cash flow problem; it’s about reshaping how people manage and think about their money.
If Rain continues to innovate while keeping users' financial well-being at the core, I see them becoming a major player in the next chapter of consumer fintech.
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