Prudential Financial is a financial services company that specializes in the fields of investment management, life insurance, and retirement benefits. It focuses on helping individuals and institutional customers to grow and protect their wealth. The company also offers an inclusive work environment where employees can develop to their full potential, and give back to the communities where they live and work.  Prudential Financial was founded in 1875 and headquartered in Newark, New Jersey.

Prudential Financial

New Media Ventures is a community of more than sixty technology leaders, venture capitalists, entrepreneurs, philanthropists, and politicos, investing together to drive progressive social change. The breadth of experience within our network is its strength. Whether you are a first time investor, new to progressive impact, or have deep experience in both, we’d love to work with you. New Media Ventures is a national angel network focused on increasing the flow of capital to new media and tech startups that focus on progressive political change. The New Media Ventures’ community has invested more than $4 million into startups that use media and technology to drive progressive change. Entrepreneurs we work with are revolutionizing the political landscape — expanding the reach of progressive ideas in everything from media distribution and content consumption to online organizing and small dollar fundraising.

New Media Ventures

SaverLife

SaverLife (formerly EARN) is a nonprofit on a mission — to inspire, inform, and reward the millions of Americans who need help saving money. Through engaging technologies and strategic partnerships, we give working people the methods and motivation to take control of their financial future.

SaverLife is a non-profit organization focused on enhancing the financial well-being of individuals with low to moderate incomes through its wellness platform. It offers personalized financial advice to its members, while providing access to financial content, savings rewards and incentives, trusted referrals, access to an online community, and opportunities to engage in advocacy and policy work. Its service aims to improve members' financial health, savings rates, and financial health scores.

Helping employers provide personalized, high-touch, and holistic financial wellness tools to their entire workforce.

Financial Wellness Tools

SaverLife To Acquire Onward Financial

SaverLife is a non-profit organization focused on enhancing the financial well-being of individuals with low to moderate incomes through its wellness platform. It offers personalized financial advice to its members, while providing access to financial content, savings rewards and incentives, trusted referrals, access to an online community, and opportunities to engage in advocacy and policy work. Its service aims to improve members' financial health, savings rates, and financial health scores.In May 2021, SaverLife entered a definitive agreement to acquire Onward Financial, mobile savings app, for an undisclosed amount. Through this acquisition, the company had plans to integrate Onward Financial’s technology to enhance its wellness offerings, along with its mobile app and payroll offerings.Key customers and partnershipsSaverLife reported to have served 600,000 members as of April 2023 and had several ongoing partnerships with notable brands, including collaborations with the KFC Foundation through "MyChange with SaverLife" to offer wellness programs to KFC employees (July 2021) and with Capital One and Dress for Success to empower women with savings and financial education (April 2021)​.

Based in the UK, Salary Finance offers a comprehensive suite of financial well-being benefits for employees. The company partners with employers to offer a platform that provides employees with access to a range of financial well-being products, including salary-backed loans, earned wage advances, savings accounts, and customized educational resources to help them build and automate savings as well as improve their overall financial well-being.In April 2024, the US operations of Salary Finance merged with the financial wellness benefit platform <a href="https://sp-edge.com/companies/609722">Finfit</a>. The combined entity now operates under the FinFit brand in the US.Key customers and partnershipsAs of February 2024, the platform was used by 600 employers across the UK, available to more than 4.5 million employees. These include more than a fifth of the companies in the FTSE-100 index. Its notable customers include the NHS, Dunelm, Virgin Active, and Simply Health.Salary Finance partnered with the American financial technology company Chime in July 2021, to launch Save—a new product to incentivize US employees to set up a salary-linked savings account with Chime, and become entitled to a USD 50 bonus and a variable Annual Percentage Yield (APY) of 0.50%.

Salary Finance

Payactiv offers a financial wellness solution, centered around "Earned-Wage Access," allowing employees to access their wages before payday. Employees can instantly access funds for hours worked, with options to transfer to their bank, load onto a Payactiv card, or withdraw cash at Walmart. Its app works as a digital wallet and includes additional features such as AI and machine-learning-based tools for budgeting, tracking savings, managing spending and bills, and obtaining personalized one-on-one financial coaching from trained professionals.The Payactiv app also features a free communication tool—Payactiv Connect—that enables employers and employees to connect for HR communications, company news, alerts, and shift scheduling.Key customers and partnershipsAs of November 2023, PayActiv’s platform was used by employees at over 4,000 businesses from industries such as retail and food services across the US, with some customers in Canada, Australia, the Philippines, and Brazil. Its clients include Walmart, Wayfair, Ibex Global and several others. It also entered into a partnership with US Bank in February 2022, where users of prepaid US Bank Focus Cards for payroll will be able to access their wages early.The company also has working partnerships with payment processors such as <a href="https://sp-edge.com/companies/23004">Fiserv</a> and <a href="https://sp-edge.com/companies/13061">Visa</a> to enable real-time transfer of earned wages to bank accounts of employees.

PayActiv

Based In the UK, Wagestream provides a financial wellness platform, offering a range of services including earned wage access, financial education, tools for savings, and pay and spend tracking. Wagestream’s tools are offered to employees through a mobile app, with an analytics platform for employers to monitor participation and financial resilience of staff.Employees can access their earned wages using the app by paying a flat fee of GBP 1.95 (USD 2.50) per withdrawal. The company’s platform has integrations with several payroll and timekeeping systems, enabling organizations to deploy Wagestream into their payroll process.Wagestream acquired 1) Australian earned-wage access startup Earnd in March 2021 to enter into the Australian market. 2) a credit card startup Keebos, in October 2023, to integrate Keebos credit score building platform (that uses open banking data) with Wagestream’s core offerings.Key customers and partnershipsAs of February 2024, Wagestream had a global user base of more than 3 million, which included more than 1,000 corporate customers in industries such as the retail, hospitality, and healthcare sectors. The company has offices in the US, UK, Spain, and Australia and some notable employers include Burger King, Pizza Hut, Crate &amp; Barrel, Bupa, University of Chicago, Popeyes, and National Health Service UK.The company also partnered with French Insuretch provider Wakam in August 2023, to introduce income protection coverage to its users.

Wagestream

Cleo offers tools for budgeting, and provides personalized spending and savings advice by connecting to a user's bank account and applying machine learning algorithms to analyze spending habits and transaction history. The app also provides access to an interactive chatbot which users can query to obtain on-demand suggestions (which has been supported by an in-house large language model since 2023).&nbsp;The platform also offers additional features such as a secured card to build credit score, direct debits, and salary advances.Cleo operates a subscription-based pricing on its budgeting and savings tools, with fee-based pricing on its cash advance offerings targeted at gig workers and workers with poor credit. The platform charges monthly subscription fees in the range of USD 1.99 - 5.99 on Cleo Plus offering and charges USD 10.99-14.99 on Cleo build offering.Cleo’s target market is the Gen-Z segment of the population and as of October 2023, the company had 7 million users, (up from 4 million in December 2020) and had USD 72.3 million annual recurring revenue (which was up 2.4x YoY)

Cleo

FinFit offers a financial wellness benefit platform for employers that uses predictive AI, and includes tools for employees to budget, track spending, set savings goals and obtain personalized financial assessments. The platform also provides access to certified financial counselors to obtain one-on-one financial advice. In addition to financial coaching, the company also offers services such as tools to manage student loan debt, get early access to earned wages, and obtain low-cost short-term loans backed by the employee’s salary. In April 2023, Fitfit merged with the US operations of UK-based financial wellness platform <a href="https://sp-edge.com/companies/342361">Salary Finance</a>. The two companies aim to launch a combined platform in the US under the Finfit brand.FinFit operates a subscription-based pricing model, and charges employers in the range of USD 0.30–1.00 per employee per month based on the size of the organizations and number of employees. The platform also generates revenue through interest income by charging users interest in the range of 7.9%–24.9% APR on its loans. It charges fixed interest on its lines of credit.As of March 2024, FinFit was reported to be serving more than 500,000 employees (up from 150,000 in 2020).Key customers and partnershipsIn September 2024, FinFit <a href="https://sp-edge.com/updates/33696">partnered with</a> <a href="https://sp-edge.com/companies/945256">Sunny Day Fund</a>, a financial support platform, to offer emergency savings accounts for employees through its SafetyNet platform. In August 2024, FinFit <a href="https://sp-edge.com/updates/32581">partnered with</a> <a href="https://sp-edge.com/companies/493140">isolved</a>, a human capital management platform, to expand product reach.

FinFit

Offers end-to-end financial wellness solutions ranging from educational resources to interactive platforms/tools for managing finances as well as access to registered investment advisors.

Provides a platform for employees, through their employers, to access earned wages or obtain emergency interest-free funds/loans, which are settled through their paycheck.

Provides a platform for employers to provide resources such as tools and advice to manage employee debt (with an increased focus on student loan debt).

Apps and platforms that allow consumers to obtain personalized financial advice, automate savings, create budgets, and track and manage spending.

Offers interactive platforms/tools for employers to provide personalized financial education resources and/or coaching to its employees.

Solutions that enable companies to offer and manage employee-sponsored emergency savings accounts through automated payroll deductions.

Platforms for employers to support employees with other debts such as mortgages, credit card debt, etc. through repayment assistance, refinancing options, and automated administrative processes.

Operates a B2B SaaS model to support employers with offering various fringe benefits to employees

SaverLife

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