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Earnin

Earnin

Earnin is a Palo Alto, California-based mobile banking company giving users access to their pay directly from mobile application.

Earnin is a financial technology company that specializes in creating products and services so that users can access their money as they earn it, instead of waiting for a paycheck.

Product

The company has a mobile application that users can download by entering their phone numbers. Users can access up to $100 per day of money that they've already earned. When the user's paycheck is later directly deposited, Earnin deducts the amount that the user accessed early. Users can choose how much they want to pay in fees for the early access. The app has other features, such as Tip Yourself, which aids users with building their savings and Balance Shield, which alerts users when their bank account balance is low so they can avoid overdraft fees.

Timeline

May 12, 2020
Earnin acquires Tip Yourself.
December 2018
Earnin raises a $125,000,000 series C round from Andreessen Horowitz, Coatue Management, DST Global, March Capital, Matrix Partners, Ribbit Capital, Spark Capital and The a16z Cultural Leadership Fund.
September 21, 2017
Earnin raises a $39,000,000 series B round from Andreessen Horowitz, March Capital, Matrix Partners and Ribbit Capital.
January 9, 2017
Earnin raises a $22,000,000 series A round from Felicis Ventures, March Capital and Matrix Partners.
July 23, 2014
Earnin raises a $4,100,000 seed round from Camp One Ventures and Felicis Ventures.
2012
Earnin was founded.
2012
Earnin was founded by Ram Palaniappan.

Funding rounds

Patents

Further Resources

Title
Author
Link
Type
Date

News

Title
Author
Date
Publisher
Description
Jim Dallke
May 12, 2020
AmericanInno
A Silicon Valley-based fintech app that allows workers to access their wages before their paycheck hits their bank account has acquired Chicago startup Tip Yourself.
David Lazarus
November 15, 2019
Los Angeles Times
Perhaps you've seen the commercials for a Silicon Valley company called Earnin, which say you can receive advances on your paycheck for no cost whatsoever (although tips are appreciated).
Kate Clark
Invalid Date
TechCrunch
The fintech company has raised the funds from DST Global, Andreessen Horowitz, Spark Capital, Matrix Partners, March Capital Partners, Coatue Management and Ribbit Capital.

References

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