Instant Financial, a FinTech firm, has celebrated a subsequent investment round, underpinning its stature in the financial world.
This round of funding was predominantly steered by TTV Capital, an eminent venture capital firm with a strong FinTech leaning and an early supporter of Instant. Additional investors who contributed to this round include ITC Holdings and InComm. The continued reinvestment from existing stakeholders emphasises their trust in Instant’s robust business strategy and its undeterred dedication to its overarching goals.
Instant Financial is focused on reshaping the payday dynamics, bringing forth innovative solutions that revolutionise the traditional payday setup. In addition to their main objective, their record showcases their dedication to providing employee payment without imposing any fees. This ethos has allowed Instant to foster relationships with a broad spectrum of clients, from the likes of Randstad and Ultra Steak to Bloomin’ Brands and Road Runner Sports.
In a period where the FinTech funding landscape has been witnessing a downturn, there’s an interesting exception in the Earned Wage Access (EWA) sector. Companies like Instant Financial have consistently received significant funding, highlighting the growing demand for immediate wage access solutions centred on employee wellbeing.
With the fresh capital injection, Instant has outlined ambitious growth plans. These funds are set aside to boost various aspects of the business, such as product development, amplifying client support, and sharpening their sales and marketing strategies. This structured approach will undoubtedly cement Instant Financial’s position at the forefront of the FinTech sector and augment its range of services.
TTV Capital Co-Founder and Managing Partner Gardiner Garrard said, “Our team at TTV Capital is optimistic about supporting Instant Financial on its journey to reshape how employees get paid. We’ve always believed in their vision to revolutionize financial accessibility for their clients and to empower individuals with seamless access to their earned wages.”
Instant Financial CEO Tal Clark also commented on the funding, “Instant Financial’s successful funding round marks a significant milestone in our journey toward revolutionizing the payday experience. We are excited to partner with our investors and we are committed to using this investment to drive innovation, expand our capabilities, and deliver even greater value to our clients.”
Reflecting on past achievements, post their last funding news in April 2018, Instant Financial has traversed an impressive trajectory, firmly anchoring its position in the ever-evolving FinTech landscape.
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