Rain, a fintech startup that gives employees early access to their wages, secured $116M in fresh funding.
The funding consists of $66M in equity funding, with the remaining $50M in debt financing. Incoming funds will help the firm scale operations and expand its product portfolio.
Rain was valued at $250M at the funding round.
- To date, the firm has bagged over $128M in total funding.
- Per Crunchbase, the latest equity financing was a Series B round.
- Seed round lead investor QED Investors led the current funding round along with Invus Opportunities.
- Wndrco, Tribe Capital, and Dreamers VC participated in the funding round.
- Rain lets users access their wages before their payday for an average rate of $3.
