A lot in the financial system can be quite confusing. It depends on where you live. Some companies cannot pay you by the 5th of the month, but the 5th of the month is such an elusive number. What if it’s a weekend. Then that’s another 2 or 3 days for salaries to be processed and that’s enough for irate landlords to argue with you or your bills to start incurring interest.
And while a few dollars of interest may not seem like anything too serious, there’s the simple fact that sooner or later every little matters. The discomfort of waiting for money that you have already earned is also demotivating as it decreases performance and makes an employee wonder “what if the money never comes”.
Many a private investor have been interested in the activities of Earnin. The company is promising to shape up as a true leader on the market, too.
This has been established by psychologists who have bene able to establish a connection between decreased motivation and performance and a missing & expected reward. And now, here comes Earnin, a start-up that is committed to one sole thing only – getting you your paycheck on time. Having secured funds from venture capital firms, it’s all looks very good for Earnin’
Isn’t that great? We should think so! The company has also just raised $125 million in a fresh Series C funding, which is even better! The money came from existing investor Andreessen Horowitz, alongside its recently announced Cultural Leadership Fund, as well as Spark Capital, Matrix Partners, DST Global, March Capital Partners, Coatue Management, and Ribbit Capital.
Earnin is in the business of outsmarting loan sharks, too. Your expenses may start piling on and that will be a real trouble, but the fact of the matter is that with a solution like Earnin, the entire financial system can be optimized in such a way that the odd-loans that loan sharks picked here and there will be no more – because everyone will be receiving their paycheck on time.
It’s even better with Earnin. You don’t have to wiat until the end o the day. If your employer has agreed to use the platform, you can cash out your money in real time – a day’s job is done – claim your money. You prefer to save up? No need to cash out yet!
Earnin is still looking for funding partners and more opportunities in the future, and it’s fully prepared to address new challenges.
The versatility of Earnin is its strongest feature and you will definitely want to check out what the platform wants to offer. Of course, you will need to also double-check with your employer if they want to use this payment solution.
Is it a worthy investment? The company has immense applications and it will be rather easy to see the upsides of this. With the system really changing the way we are being paid out globally. It’s easy and it’s simple and employers should embrace this option.