Rain, the fintech company focused on earned wage access (EWA) and employee financial wellness, has raised $75 million in Series B equity funding. Prosus, one of the largest technology investors globally, led the round. Additional participants included Nextalia Ventures, Spark Growth Ventures, and existing investors such as QED Investors and Invus Opportunities.
This latest round positions Rain to accelerate its expansion across the U.S., aiming to serve more employers and employees with flexible pay and financial management tools. The company did not disclose its valuation.
Founded in 2019, Rain operates in the growing EWA sector, which enables workers to access wages as they earn them—without waiting for traditional paydays. As employers navigate a changing labor landscape, solutions like Rain offer both retention and engagement benefits.
"The relationship between work and life is evolving, and independent financial flexibility is becoming essential for employees," said Ali Esfahani, Head of Americas Investments at Prosus. "Rain provides a solution that empowers workers, helps businesses thrive, and plays a fundamental role in this shift in workforce dynamics."
The newly raised capital will help Rain scale its go-to-market operations, onboard more employers, and extend its reach to millions of workers across the U.S. The company also plans to enhance its suite of digital financial wellness tools for both employees and HR teams.
In the pipeline are features like savings solutions and credit-building tools—intended to help workers not just access their wages, but also build long-term financial health. The company is also investing in new hires and deeper integration capabilities with employer systems.
Rain integrates directly with employer payroll and HR software, allowing for frictionless implementation. The impact has been notable: employers using Rain have reported a 200% increase in job applications, 20 additional work hours per employee per month, and a 46% improvement in retention after six months.
The platform has already facilitated over $2 billion in earned wages for more than 2.5 million users. In addition to on-demand pay, Rain offers bill negotiation, a debit card with overdraft protection, tax filing support, and access to in-app financial coaching.
This investment fits into Prosus’s broader strategy of backing platforms that support flexible, distributed workforces. Its portfolio includes companies like Flipkart, OLX, Swiggy, and iFood—platforms powered by gig and hourly workers who benefit from EWA and financial wellness offerings.
Alex Bradford, Co-Founder and CEO of Rain, emphasized the company's broader vision: "Rain is building the employee engagement app of the future centered around financial wellness. Rain makes it easy for employers to give their employees the freedom to access and manage their earnings on their own terms. Thanks to the support from Prosus, Nextalia and other investors participating in this round, Rain is in a strong position to scale to thousands of new employers and millions of new employees across the U.S."
