Consumer financing app Activehours has raised $22m in a new round of funding led by Martix Partners.
Funding for the Palo Alto company also comes from March Capital Partners, Ribbit Capital and Felicis Ventures.
The companyâ€™s mobile app aims to provide employees with payment for the hours they have already worked when they need it, ahead of their usual pay cycle.
Activehoursâ€™ app is available to anyone with a checking account regardless of their employer.
It also does not charge a fee or interest for the service instead requesting users pay a tip of their choice.
The funding follows strategic integration with Uber and a retail partnership with Sears Holdings.
Activehoursâ€™ founder Ram Palaniappan said: â€œWith todayâ€™s technology, we can actually pay people faster than daily.
â€œWhen you shop, you pay at once. When you go out to eat, you pay at once. But when you work, you wait two weeks to get paid. Activehours is a better way to get paid, and people are taking notice.â€
The company says it now works with employees from more than 12,000 companies since launching in 2014.
The new funding will be used to expand Actiuvehourâ€™s team and drive growth.
Matrix Partners general partner Dana Stalder said: â€œPeople want to be assured they can access payment for completed work hours at a price that will always work for them.
â€œActivehours relieves stress and financial strain in an innovative way, and we are excited to help the company scale to help more workers.â€
The startup previously raised $4.1m in a 2014 seed round led by Felicis Ventures and Rabbit Capital.
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