Rain provides earned wage access (EWA) technology that allows employees to access their earned wages instantly, enhancing financial control and reducing financial stress. By integrating seamlessly with existing payroll systems, Rain helps employers improve employee retention and engagement while minimizing turnover costs.
Funding
$179.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+4Founders
Product
Problem
Many employees experience financial stress between paychecks, leading to decreased productivity and increased turnover for employers. Traditional payroll cycles can leave employees without access to funds needed for unexpected expenses or bill payments.
Solution
Rain provides an earned wage access (EWA) solution that integrates with existing payroll systems, allowing employees to access their earned wages instantly. This financial wellness benefit gives employees greater control over their finances, reduces financial stress, and bridges the gap between paydays. By offering on-demand access to earned wages, Rain helps employers improve employee retention, increase job applications, and boost employee engagement. The platform is designed to be easy to use and collects limited data, ensuring a safe and efficient way to deliver earned wages.
Target Audience
Rain primarily targets employers across various industries, including healthcare, restaurant & QSR, retail, manufacturing, and hospitality, seeking to improve employee retention and engagement.
Features
- Seamless integration with existing payroll and timekeeping systems
- Customizable EWA controls for employers to align with best practices
- Free transfer option for employees to access earned wages
- Limited data collection to ensure employee privacy
- Mobile app for employees to easily access and manage their earned wages
- Security measures exceeding industry standards, including ISO/IEC 27001:2022 and SOC 2 Type 2 compliance