Public company, workplace, funding, and market signals
Updated Aug 16, 2026
Rain is a Santa Monica, California-based fintech company providing employer-integrated earned wage access and financial-wellness products. Its platform lets employees access a portion of earned wages before payday and includes tools such as a deposit account, debit card, overdraft protection, budgeting, savings, and financial coaching.
Primary product
Rain Instant Pay: employer-integrated earned wage access and financial-wellness platform.
Founded
2019
Headquarters
Santa Monica, California, United States
Team size
151-200
Industry
Financial Services
Sub-industry
Fintech; earned wage access; employee financial wellness; HR technology
Offices
Business model
Stage
Series B
Total raised
$503.6M
Latest round
Series B equity · Apr 2025
Latest amount
$75M
Apr 2025 · Prosus
Feb 2024 · Clear Haven Capital Management
Mar 2023 · QED Investors and Invus Opportunities
Mar 2023 · Sound Point Capital Management
Seed and early financing
Leadership
Co-Founder and CEO
Frederic Choquette
Chief Operating Officer
Jen Terrell
VP, Employer Partnerships and Co-Founder
Shohan Rahman
VP, Sales and Partnerships
Public signals emphasize a mission-driven, employee-focused culture centered on financial dignity, responsible earned wage access, rapid growth, product innovation, and improving financial outcomes for hourly and frontline workers. Specific internal culture and benefits details were not publicly documented in the sources reviewed.
Pricing
Employer-sponsored access is generally marketed as free for employers. Employees can access earned wages through free or fee-based methods; Rain has described a small fee for optional instant transactions, while employer configurations can also provide free ACH access. Rain generally limits withdrawals to no more than 50% of gross earned wages per pay period.
Differentiators
Technology
Customers
Competitors
Estimated monthly visits
53.8K
Traffic estimate as of Jun 2026
Rain · Apr 2025
Rain announced a $75 million Series B led by Prosus, with participation from Nextalia Ventures, Spark Growth Ventures, QED, Invus Opportunities, and other existing investors. The company said the capital would support go-to-market expansion and new financial-wellness products.
TechCrunch · Apr 2025
TechCrunch reported the Series B valuation at $340 million post-money and described Rain's plans for credit, savings, HSA, and employer-management products. It also reported approximately 175 employees at the time.
Rain · Feb 2024
Rain announced a $300 million credit facility from Clear Haven Capital Management to expand its employer-integrated earned wage access and financial-wellness platform.
Rain · Mar 2023
Rain announced $116 million in combined Series A equity and debt financing: $66 million of equity led by QED Investors and Invus Opportunities, plus a $50 million debt facility arranged by Sound Point Capital Management.
Forbes · Mar 2023
Forbes covered Rain's Series A financing, its wage-assignment structure, and its positioning as an earned-wage-access product rather than a conventional credit product.
13 jobs at Rain (California)