Rain: Lighting up faces before payday
One of the most important aspects of someone's overall wellbeing is their financial health. This has never been more true than in the years following the pandemic, when financial health has become a key concern for both employers and employees, along with physical and mental health. In fact, according to a recent survey by fintech platform Rain, about 55% of respondents said that their biggest source of stress was money-related, which emphasises how crucial it is to give workers confidence in the future and ease their financial burdens.
“At Rain, we aim to do just that,” says its CEO, Akbar Khan. “We want to expand individuals’ financial freedom, enable them to meet their financial obligations, give them a feeling of security, and most importantly, allow them to make their own choices, rather than fall into the trap of predatory financial products like payday loans.”
Thus, Rain is a comprehensive benefits platform for financial wellness for underserved employees. Its main goal is to provide salaried people with financial solutions that are driven by their earned wages. Alex Bradford and Jennifer Terrell founded the business in the US in 2019, and its Indian subsidiary was founded in December of that same year. QED, LightSpeed, Dreamers VC, Picus Capital, Jump Capital, CMV, Ethos Capital, and Quad Partners have all provided financial support for it.