Participated · Equity · Jul 2026

PEX provides a payments and financial automation platform that combines prepaid, charge, disburse and virtual cards with customizable spend controls, AI-powered receipt capture, and automated workflows. The platform is designed to give owners and finance leaders visibility and automation to reduce manual work and enforce policy. PEX offers solutions across payments, spend management, credit and financial automation. The company is led by CEO and Founder Toffer Grant and is headquartered in New York City. With the recent $160M debt and equity financing, PEX intends to accelerate program growth, expand product innovation, and invest in sales, partnerships and strategic initiatives.

Led · Debt Financing · Feb 2024

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.

Led · Debt Financing · May 2022

Walnut is a fintech–healthtech company that offers point-of-sale lending for medical expenses, allowing patients to repay healthcare bills in increments such as $100 per month over 30 months with no interest or fees. The platform integrates directly with healthcare providers and venture-backed digital health startups so bills can be presented to patients at checkout. Walnut relies on cash-flow underwriting—connecting to a user’s bank account to assess income and spending—rather than traditional credit scores, which the company says improves accessibility and keeps default rates comparable to mature lenders. The business reports 50% month-over-month revenue growth for the past six months and now serves “thousands” of patients. Behavioral health has emerged as the most popular use case on the platform. To meet rising demand, the team plans to expand nationwide and grow headcount from 15 to 50 by year-end. Founders Roshan Patel and Yash Joshi position Walnut as a non-cyclical BNPL solution, arguing that essential healthcare spending is resilient even during downturns.

Led · Equity · Jan 2022

BasicBlock is a Lincoln NE-based trucking financial technology company that builds financial products to allow independent carriers to grow their fleets. Its tools provide streamlined financial services for fleets and carriers worldwide, with a particular focus on factoring. The company plans to use the $78M equity funding to continue focusing on factoring while adding and expanding services for carriers to grow their fleets. BasicBlock also intends to grow operations into Chicago. The company is led by CEO Taylor Monks and COO Brett Byman.

Participated · Seed · Oct 2021

Torpago offers a commercial card and spend-management platform it now packages as Torpago Powered By so regional and community banks can launch branded cards and expense programs without sending customers outside the bank’s domain. The product integrates with over 200 accounting systems, can issue virtual and physical cards in real time, and includes a dashboard for card and spend management. The company pivoted from selling directly to small businesses—shrinking its direct base from about 2,000 to 300 companies—to focus on banks; it currently works with three banks and is onboarding another six over the next two quarters. Revenues are generated by interchange fees; Torpago more than doubled revenue and total payment volume since its 2023 Series A. Over the past year the team rebuilt infrastructure to serve banks and plans to bolster implementation and compliance resources with the new funding. Product roadmap includes AI/LLM features for underwriting, credit memos and risk scores, plus an AI travel-booking engine aimed at replacing legacy travel products next quarter. Torpago issues corporate cards and provides spend-management software that the company says can take a transaction from swipe to journal entry within seconds. The company plans to launch a new spend management platform intended to redefine how SMBs manage finances. Torpago reports rapid growth, claiming approximately 1,000 current business customers and a waitlist of 2,000+ businesses. It also reported 100% month-over-month growth throughout 2021. The company will use new financing to expand operations and onboard waitlisted customers. Torpago has raised at least $80.2 million to date, including the latest $77 million financing.