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