After developing a free earned-wage advance offering for frontline workers two years ago, fintech company Clair is back with a new tool to help workers get paid after completing a shift and receiving $175 million in new equity and debt funding.
Nico Simko, co-founder and CEO of Clair, told TechCrunch that the new investment includes $25 million in equity. It was led by Thrive Capital and includes Upfront Ventures and Kairos. Clair’s total venture-backed funds now rise to $45 million. As part of the investment, Michael Presser, investing partner at Kairos, was appointed as a board observer.
