PayActiv Announces $20 Million Series B Round of Financing

On October 10, 2018, PayActiv, a San Jose-based financial wellness platform for employees, announced that it has raised $20 million in a financing round led by Generation Partners. PayActiv provides employees with on-demand access to earned but unpaid wages and has commercial agreements in place with Walmart and ADP, among others. PayActiv is focused on reducing predatory lending and debt cycles for millions of workers. Wilson Sonsini Goodrich & Rosati is representing PayActiv in the transaction.

The WSGR corporate team representing PayActiv included Mike Danaher, Andrew Sparks, Chris Garcia, and Darlene Rado. Certain tax matters were handled by Myra Sutanto Shen.

For more information, please see PayActiv's press release announcing the new financing.