Instant Financial, a leading innovator in the financial technology sector, has successfully completed its second funding round. The round was led by TTV Capital, a venture capital firm focused on fintech, and also saw participation from ITC Holdings and InComm, as well as reinvestment from existing partners.
TTV Capital expressed their optimism about supporting Instant Financial in their mission to reshape how employees receive their pay. They believe in Instant’s vision to revolutionize financial accessibility and empower individuals with seamless access to their earned wages.
Instant Financial’s exceptional growth in 2021 and 2022, marked by unprecedented revenue expansion, demonstrates its commitment to delivering fee-free employee pay. Their diverse client portfolio includes companies like Randstad, Bloomin’ Brands, Ultra Steak, Road Runner Sports, and more.
Despite a decline in fintech funding over the past year, there is a notable trend of sustained funding flowing into earned wage access (EWA) companies. This signals a rising consumer appetite for immediate payment solutions that prioritize employee wellbeing.
The newly secured funds will be used to accelerate Instant Financial’s growth initiatives, including investments in product development, enhancements in client support services, and strategic sales and marketing endeavors. These investments will fortify Instant Financial’s position as a market leader and further enrich its suite of offerings.
CEO of Instant Financial, Tal Clark, recognizes the successful funding round as a significant milestone in their journey to revolutionize the payday experience. They are committed to using the investment to drive innovation, expand their capabilities, and deliver even greater value to their clients.
Since their last funding announcement in April 2018, Instant Financial has established itself as a key player in the financial technology landscape. They aim to provide financial freedom and wellness to millions of workers in the United States through their earned wage access solutions. By allowing employees to access their daily wages immediately after their shift, Instant Financial helps organizations improve retention and reduce absenteeism, while empowering employees to take control of their financial freedom between work day and payday.
Segui Avvisatore su Instagram: @avvisatore.it