Instant Financial

Instant Financial provides a platform for employers to offer earned-wage access to staff via a mobile application. The company also provides services such as earnings trackers, payments, transfers, and free ATM cash withdrawals. The company claims that employers that use its platform are 30% more likely to attract employees and 20% more likely to retain them.

Key customers and partnerships

As of March 2024, the company served brands across industries such as hospitality, manufacturing, transportation, and retail, serving brands such as Denny’s, Dunlap Tire, Gen Korean BBQ, Gun Lake Casino, and Primanti Bros.

In February 2021, Instant Financial partnered with the human resource solutions provider, Ultimate Kronos Group (UKG) network to offer earned wage access to users of UKG’s platform.

Funding and financials

The company raised an undisclosed amount in funding via an investment led by TTV Capital. The funds were to be used to invest in growth, product development, and customer support.

In 2023, Instant Financial facilitated the movement of more than USD 1 billion in employee payments and handled over 52 million transactions for employees, leading to an 18% yearly growth in payments distributed through Instant's payment platform.