Clair, A Us Fintech Raises $175M To Launch An On-Demand Pay Solution For Frontline Workers

Jul 07, 2023•about 2 years ago

Amount Raised

$175 Million

New YorkFinanceFintech

Investors

Michael PresserKairosUpfront VenturesThrive CapitalPathward

Description

In a recent development, Claire has raised $175 million in funding to launch the first free, consumer-friendly, on-demand pay solution as a consumer lending program. The new program provides for a participation amount of up to $150 million, which allows front-line workers to take wage advances from Pathward. Through the partnership, consumers get access to Pathward established FDIC-insured Clair Spending and Savings Accounts, among other financial services. The funding includes an additional $25 million in equity in a round led by Thrive Capital

Company Information

Company

Clair

Location

New York, New York, United States

About

Clair is a leading provider of embedded Earned Wage Access (EWA), empowering workforce management and payroll platforms to offer daily pay access to employees at no cost to employers. Supported by its partnership with FDIC-insured national bank Pathward, N.A., Clair is available at over 29,000 work locations across 29 different industries, increasing retention and financial wellness amid front-line worker shortages. Clair is based in New York and has raised $68.7 million in equity funding from investors including Thrive Capital, Upfront Ventures, Kairos HQ, and Founder Collective.

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