📸Rain, the financial health app for employees founded in 2019 by Alex Bradford, Gilberto Garcia, and Jennifer Terrell, has raised $116 million in a Series A round of funding. Based on Crunchbase data, this was the largest Series A round in HRTech history.

🔀Rain, which allows employees to access their salaries shortly after completing their shifts instead of waiting for payday, collected $60 million of the financing as equity and $50 million as debt. The investment round was participated in by QED Investors, Invus Opportunities, WndrCo, Tribe Capital, and DreamersVC. Sound Point Capital Management provided the debt.

📢At the link below, you will discover the story of Rain, which is preferred by companies such as Hilton, Marriott, McDonald’s, Burger King, and Taco Bell and helps reduce employee turnover.

Source of news

https://www.rainapp.com/us-blog/rain-instant-pay-closes-historic-funding-2023