Employee payments solution Activehours has reportedly picked up a $39m investment led by Andreessen Horowitz.
Other firms taking part in the round included Matrix Partners, Ribbit Capital and March Capital Partners, according to an article by TechCrunch.
California-based Activehours is a smartphone application which helps hourly workers to be paid when they need.
The platform, which is available on Android and iOS, works by a user taking a picture of their timesheet, then just clicking a button to receive the funds to their bank account. There are no fees or interested related to the claims.
This funding round brings total capital raised by the company to around $65.1m, with the company scoring $22m at the start of the year. The previous round of raising was led by Matrix Partners and saw commitments from March Capital Partners, Ribbit Capital and Felicis Ventures.
Earlier this month Matrix Partners backed credit scoring platform InfoCredit Services in its $5m funding round. The round of capital was used to add anti-fraud and verification services to its existing big data underwriting platform.
Other companies in the firm portfolio include HR, payroll and benefits platform Namely, endpoint security provider Carbon Black and marketing and sales company HubSpot.
There has been a colossal downfall in global PayTech companies in the first half of 2017, with only $400m having gone to investments in the sector.
Copyright © 2017 FinTech Global