# PayActiv

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/payactiv

- Industry: Software
- Headquarters: San Jose, US
- Website: www.payactiv.com
- Total disclosed funding: $86M
- Latest round: Series C (Aug 13, 2020)
- Investors on record: 5

## About

PayActiv, Inc. is a financial wellness platform that provides Earned Wage Access, allowing users to access earned wages before payday, along with budgeting and financial counseling tools.Founded in 2012 in San Jose, US, PayActiv, Inc. specializes in financial wellness services, focusing on Earned Wage Access. The company has received a total of USD 20.37 mn in funding, with the latest Series C round occurring on August 13, 2020, led by Eldridge Industries and joined by Generation Partners and Ziegler & Co. The firm was co-founded by Ijaz Anwar, Safwan Shah, and Sohail Aslam, with Safwan Shah currently serving as CEO.PayActiv offers a comprehensive financial wellness platform centered on its core product, Earned Wage Access (EWA), which allows users to access their earned wages before the traditional payday. The Payactiv app provides budgeting tools, savings recommendations, and access to financial counseling, addressing various financial challenges faced by clients. The service is designed for individuals and employees across sectors such as retail, healthcare, and hospitality, making it accessible to a diverse customer base in the United States.PayActiv generates revenue primarily through transaction fees linked to its financial services, particularly through the Payactiv Visa Card for purchases. Users accessing their earned wages via Payactiv typically incur no direct costs if they meet specific account criteria. The business model involves partnerships with employers to integrate EWA into employee benefits, enhancing satisfaction and retention, while revenue is also supported by interchange fees collected from merchants.In August 2020, PayActiv, Inc. raised USD 20.37 mn in Series C funding, which will support the development of new products and services aimed at expanding its financial wellness offerings. The company is focusing on expanding into new markets, particularly targeting additional sectors within the US and exploring opportunities internationally. Recent funding will facilitate this growth strategy by enhancing product development and market entry efforts.

## Funding rounds

- Series C, Aug 13, 2020, $20M — Generation Partners, Ziegler, Eldridge Industries
- Series C, Sep 3, 2019, $37M — Generation Partners, Ziegler, Eldridge Industries
- Series B, Aug 15, 2018, $20M — Generation Partners, Softbank Capital, Ziegler & Co.
- Series A, Feb 17, 2016, $9.2M — Softbank Capital

## Investors

- Softbank Capital (https://capitalatlas.ai/funds/softbank-capital) — Series A, Series B
- Generation Partners (https://capitalatlas.ai/funds/generation-partners) — Series B, Series C
- Ziegler & Co. — Series B
- Ziegler (https://capitalatlas.ai/funds/ziegler) — Series C
- Eldridge Industries (https://capitalatlas.ai/funds/eldridge-industries) — Series C