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Industries
Fintech
Social Impact
Company Size
201-500
Company Stage
Series C
Total Funding
$133.8M
Headquarters
San Jose, California
Founded
2012
PayActiv provides a financial service that allows workers to access their earned wages before the traditional payday. By using time and attendance data, PayActiv calculates the wages that employees have earned but not yet received. Once the employer or benefits provider sends the funds, they are loaded onto the worker's Payactiv Visa Card, enabling earlier access to their money. This service helps workers avoid high fees associated with payday loans and overdrafts. Unlike many competitors, PayActiv does not charge employers for offering this service, instead generating revenue through transaction fees when workers use their cards. As a public benefit corporation and certified B Corp, PayActiv aims to balance profit with social responsibility, focusing on the well-being of workers and the community.
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Total Funding
$133.8M
Above
Industry Average
Funded Over
4 Rounds
Industry standards
Health Insurance
Dental Insurance
Vision Insurance
401(k) Retirement Plan
401(k) Company Match
Tuition Reimbursement
Gym Membership
Paid Vacation
Paid Family Leave
SUNNYVALE, Calif., Feb. 12, 2025 /PRNewswire/ -- Plug and Play GOAL achieved significant milestones in 2024, driving innovation, fostering collaboration, and enhancing its global presence. In the past year, the US Soft Landing program supported 90 startups from over 12 countries, delivering 13 programs in in-person and hybrid formats. Looking ahead to 2025, the focus remains on advancing the entrepreneurial ecosystem and empowering startups worldwide. From its establishment in 2009, the GOAL program has accelerated over 1000 startups from across the globe to connect them to Silicon Valley resources.Last year, Plug and Play worked closely with 16 esteemed collaborators and program sponsors, including the Armenian Ministry of High Tech Industry, City of Hamburg, City of Laval, Daegu Chamber of Commerce and Industry (Daegu CCI), Enterprise Singapore, Hamdi Ulukaya Initiative, Hong Kong Science and Technology Parks Corporation (HKSTP), Innovation Denmark, Korea Environmental Industry Association (KEIA), K Innovation Center (KIC) in Silicon Valley, Korean Ministry of Environment, New Energy and Industrial Technology Development Organization (NEDO), Startup Lithuania, Team of Wakers, The State of Schleswig-Holstein, and Zagreb Innovation Centre (ZICER). These partnerships played a key role in supporting startup growth and fostering innovation."We bring our startups into the Plug and Play ecosystem, which provides immense benefits, such as meeting real American people, experiencing the culture, and understanding how to expand their business in the U.S.," said Alexandre Corriveau, Director of Terro X from Laval
SAN JOSE, Calif., Aug. 27, 2024 /PRNewswire/ -- Payactiv, Inc. , the pioneer and leading provider of Earned Wage Access (EWA) and employer-sponsored holistic financial wellness benefits, has won the Silver Stevie® Award in the "Technology Excellence - Financial Technology" category. This prestigious recognition underscores the unwavering commitment to innovation by Payactiv and its dedication to enhance financial security of the American workers through cutting-edge technology."We are thrilled to receive this award, which validates our relentless focus to revolutionize financial technology for the benefit of millions of workers across United States," said Safwan Shah, CEO and co-founder of Payactiv. "This recognition inspires us to further innovate and expand our services, reinforcing our mission to unlock access to liquidity for workers and foster a more equitable society."Stevie judges commended Payactiv for its pioneering role in the financial wellness space, particularly its introduction of EWA in 2012. Beyond EWA, Payactiv has developed a robust financial wellness ecosystem that includes bill payments, saving and budgeting tools, 1:1 financial coaching, and exclusive discounts, all seamlessly integrated with leading HCMs.As a Public Benefit Corporation and Certified B Corporation, Payactiv continues to lead the industry in financial innovation
Introducing more employee-centric options for accessing earned wage advancesMILPITAS, Calif., April 8, 2025 /PRNewswire/ -- Payactiv, Inc. , the pioneer and leading provider of Earned Wage Access (EWA) and employer-sponsored holistic financial wellness benefits, today announced the launch of Visa+, enabling real-time1 earned wage disbursements to Venmo and PayPal2.With Visa+, Payactiv is expanding how people access their money – without the need to share debit card or bank account information.Just fast, seamless access to wages when it matters most."Financial security is the foundation for meaningful growth, both at work and in life," said Safwan Shah, founder and CEO of Payactiv. "Our integration with Visa+ empowers employees to access their money on their terms, enhancing financial control and freedom."Why It Matters:Flexible, Convenient Access to Pay: Transfer earned wages to one's own Venmo or PayPal account in real-time 1 .Transfer earned wages to one's own Venmo or PayPal account in real-time. Simple and Secure: Without the need to share debit card or bank account information."Our workforce values flexibility and convenience, and with Payactiv's Visa+ integration, our employees now have real-time1 access to their earned wages through familiar platforms like Venmo and PayPal. This empowers them to manage their finances on their terms, which ultimately boosts employee satisfaction and retention," said Steve Boyd, Senior Director HRIS at American Senior Communities.Payactiv remains at the forefront of financial empowerment, providing innovative solutions that remove obstacles to financial growth for both businesses and their people. With Visa+ and five fee-free EWA disbursement options, Payactiv continues its mission to make financial wellness more accessible for all.Visa+: Simplified and Real-time1 Payouts to Digital WalletsVisa+ offers a streamlined method for directing funds disbursements to participating digital wallets in real-time1
Millions of Workers Empowered to Gain Financial Control with Timely Access to Earned WagesSANTA CLARA, Calif., Nov. 8, 2023 /PRNewswire/ -- Payactiv , a leading provider of holistic financial wellness benefits, and a member of Oracle PartnerNetwork (OPN), today announced it is now available on Oracle Cloud Marketplace and can be integrated with Oracle Fusion Cloud Human Capital Management (HCM) .With Payactiv , Oracle Cloud HCM customers will now be able to help their employees manage day-to-day finances, pay bills on time, save and budget, access free 1:1 financial coaching and reach their financial goals.Recent research by 60 Decibels revealed Earned Wage Access (EWA) plays a pivotal role in safeguarding workers from dangerous debt traps, reducing payday loan usage and overdraft incidents by 70% and 69%, respectively. According to the same study, 7 out of 10 Payactiv users reported increased job satisfaction, underscoring its value as an attractive employee benefit."We're thrilled to work directly with Oracle Cloud HCM customers and bring to them our best-in-class holistic financial wellness solutions," said Safwan Shah, CEO and co-founder of Payactiv. "Our availability in Oracle Cloud Marketplace will enable millions of workers to gain timely access to their earned wages and will further bolster Oracle's market-leading HR solution.""Earned Wage Access and financial wellness benefits are powerful employee recruitment and retention tools," said David Hicks, group vice president, Worldwide ISV and Cloud Business Development, Oracle. "With Payactiv and Oracle Cloud HCM, organizations can help improve employee satisfaction and demonstrate their commitment to supporting the financial well-being of their valued workers."Oracle Cloud Marketplace is a centralized repository of enterprise applications offered by Oracle and Oracle partners.About PayactivPayactiv, an award-winning certified B-Corp, is the leading provider of Earned Wage Access, offering a suite of financial wellness services designed to empower people to participate in the economy they helped create. Our platform and digital wallet serve 4,000+ businesses and level the playing field for millions of workers who struggle with cashflow between paychecks.Payactiv is the Gold Stevie® Award winner for the 2023 'Corporate Social Responsibility Program of the Year', winner of the 'Best Innovative or Emerging Tech Solution' at the 2022 HR Tech Awards, a Silver Stevie® Award for our 'All-in-One Digital Wallet and Livelihood Platform', and 'Best Wellness Program' award at the California Excellence HR Awards
SAN JOSE, Calif. , Sept. 27, 2023 /PRNewswire/ - Payactiv, the leading provider of employer-integrated holistic financial wellness benefits, has released its 2023 Impact Report.
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Industries
Fintech
Social Impact
Company Size
201-500
Company Stage
Series C
Total Funding
$133.8M
Headquarters
San Jose, California
Founded
2012
Find jobs on Simplify and start your career today