Rain, a Los Angeles-based financial technology startup offering employer-integrated earned wage access (EWA) services, has successfully raised $75 million in an all-equity Series B funding round, led by investment giant Prosus. The latest round brings Rain’s valuation to approximately $340 million post-investment.
Launched in 2019, Rain provides employees early access to their earned wages before payday, coupled with financially empowering tools that include overdraft alerts, spending trend analyses, financial education resources, personal financial coaching, and even free tax filing services. According to co-founder and CEO Alex Bradford, the fresh funding will primarily support Rain’s strategic push beyond traditional earned wage access into broader financial wellness solutions, including credit and savings products.
Rain’s EWA platform differs notably from many competitors by deeply integrating with payroll and timekeeping systems, thus automating much of the onboarding and payroll processes. This approach allows employers to set up quickly and maintain minimal involvement after initial configuration. Bradford emphasized the advantage of Rain’s automation, pointing out reduced employer workload and greater employee retention resulting from these offerings.
The startup reports significant traction, having onboarded over 2.5 million employees and distributing more than $2 billion in early-earned wages so far. Rain primarily serves mid-enterprise customers with more than 300 employees, charging users a modest fee similar to ATM transaction costs—averaging around $3—for instant wage transfers. It also provides a free ACH service that delivers funds to employees’ accounts by the following business day.
Notably, Rain is careful to position itself beyond simple salary advances. The firm highlights its financial wellness services, which reportedly drive 70% of its monthly user acquisition, compared to 30% attracted solely by EWA capabilities. Bradford underlined this strategy, envisioning the company’s long-term success as reducing the dependence of users on EWA by improving their financial literacy and savings habits.
Later this year, Rain intends to introduce additional product enhancements, notably an EWA-secured credit card with dynamic credit limits adjusted based on verified earnings data directly linked to payroll systems. Additionally, Rain plans to introduce a practical solution for employee Health Savings Accounts (HSAs), allowing spending from regular cards with automatic reimbursement, and a new savings account product featuring automated savings and reward incentives.
This substantial Series B round was joined by Nextalia Ventures, Spark Growth Ventures, and several returning investors, including QED and Invus Opportunities. Funding will support Rain’s ongoing ambitions to scale its platform’s capabilities, expand its market reach through new partnerships, enhance sales capabilities, and improve support systems designed to further simplify employer management requirements. Currently employing 175 people, Rain is now focused on strengthening its sales strategies, marketing channels, and business partnerships.
The company’s funding comes at a nuanced time for the fintech space, which has experienced mixed signals lately. While global fintech investments dropped significantly in recent years, early signs in 2025, including larger deal sizes and renewed investor interest, suggest a cautiously optimistic outlook. Employee-centered EWA platforms like Earnin have come under regulatory pressure for potentially predatory practices, offering Rain further opportunity to differentiate itself through employer-integrated, financially healthier alternatives.
Bradford says Rain’s ultimate vision goes beyond pay advances, aiming to help millions of workers achieve stable financial footing and eventual economic independence. Before this Series B, Rain secured a $116 million Series A round in 2023, split between $66 million equity and $50 million in debt funding.
