PayActiv

PayActiv is a leading employer-sponsored earned wage access and holistic financial wellness platform with a mission to bring security, dignity and savings to workers.

PayActiv is the best way for employees to get financial relief between paychecks, a service needed by two-thirds of the workforce.

PayActiv was founded in 2012 by Safwan Shah, alongside with Sohail Aslam and Ijaz Anwar. The company is headquartered in San Jose, California.

PayActiv gives businesses the tools essential to ease the financial stress of their employees and build a higher performing workforce.

PayActiv offers industry-leading flexibility in how users access their cash, including through direct cash pickup, PayActiv prepaid card, instant Visa or Mastercard debit card load, ACH payment, or by using wages to pay bills, make purchases on Amazon, or purchase rides on Uber.

 

PayActiv also provides its users with a range of financial wellness and planning tools backed by AI and machine learning that enable customers to save, budget and more efficiently manage their money. Employees love PayActiv because it eliminates the expensive, between-paychecks tolls of payday loans, bank overdrafts and late fees.

 

PayActiv currently serves more than 4 million employees at over 1,000 businesses across retail, food services, business processing services, and over 400 senior living and healthcare businesses. Its clients include Walmart, Wayfair, Ibex Global and many others.

 

PayActiv is backed by Generation Partners, Eldridge, Ziegler Link•Age Fund, Softbank Capital, ARCH Venture Partners, Plug and Play Ventures and others. The company raised $100M in Series C round on Aug 13, 2020. This brings PayActiv's total funding to $133.7M to date. PayActiv has won best in class awards in both FinTech & HRTech and is the provider of Earned Wage Access to Walmart.

 

 

  • Year founded: 2012
  • Funding Info: $133.7M over 6 Rounds (Latest Funding Type: Series C)
  • Yearly Revenue: NA
  • Employee Size: 51-200
  • Business Valuation: NA
  • City/Town: San Jose
  • State: California
  • Country: United States
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