Rain operates an employer-integrated earned-wage-access app paired with financial-wellness tools such as overdraft alerts, spending trends, a financial education portal, one-on-one coaching and free tax filing via april. The startup targets mid-market and enterprise customers (over 300 employees) and charges an average instant-transaction fee of about $3 while offering a free ACH option. Rain says it has onboarded over 2.5 million employees, distributed more than $2 billion in earned wages, and employs about 175 people. Management says non-EWA services (education, coaching, tax filing) account for roughly 70% of monthly adoption versus 30% for EWA. Product roadmap includes an EWA‑secured credit card with a dynamic credit limit, HSA reimbursement tooling, and savings accounts with auto-save and rewards planned later this year. Rain offers earned wage access (EWA) and a suite of financial wellness tools that integrate with timekeeping and payroll systems while requiring minimal employee data. Its pay-on-demand feature lets employees access wages in real time for a small per-transaction fee and employers can limit withdrawals to no more than 50% of an employee’s gross earnings per pay period. Rain is free for employers that provide it as a voluntary benefit and adheres to Consumer Financial Protection Bureau guidelines. The company reports employer customers saw an average 50% improvement in retention among employees who use the app and those employees worked an average of more than 20 hours per month. Rain estimates it has helped customers’ employees avoid over $51 million in overdraft fees and payday-loan interest. With the new financing, Rain plans to scale its EWA offering to more employers and continue expanding its financial wellness reach. Rain offers earned wage access (income streaming) and financial wellbeing services that allow employees to withdraw pay shortly after completing a shift instead of waiting for payday. The service is offered free to employers; employees pay a small ATM-like fee per withdrawal and cannot withdraw more than 50% of gross earned wages per pay period. Rain integrates with payroll and timekeeping systems including ADP, UKG, and SAP, and is SAP’s first and main earned wage access partner globally; the company emphasizes compliance and relies on less employee data than many competitors. Rain launched its Instant Pay app in early 2020 and has grown its user and client base over 20% per month for the past 30 months; to date it has disbursed over $150 million in earned wages. The platform is used by employers covering over half a million employees across large healthcare systems, senior living groups, hotel franchises (including Hilton and Marriott) and fast-food franchises (including McDonald’s, Burger King, and Taco Bell); employers report up to an 80% reduction in turnover and 86% improved job satisfaction among users. Rain plans to use new funding to support continued U.S. expansion through investments in technology and infrastructure, employee and employer experience, and marketing.

Total raised

$491M

Funding rounds

4

Latest round

Series B

Latest activity

Apr 2025