Rain, an earned wage access platform, secured a $300 million credit facility from Clear Haven Capital Management, marking a significant increase in capacity and potential annual disbursements. By partnering with employers, Rain enables workers to access their earned wages immediately after each shift through various methods, aiming to provide an alternative to payday loans and high-interest credit cards while enhancing employer retention. With a focus on financial wellness, Rain offers tools for building credit, managing spending, and reducing debt, ultimately (and ironically) lowering workers’ dependence on earned wage access over time.
Earned Wage Access Provider Rain Secures $300M Credit Facility
