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Activehours Picks Up $22M

Palo Alto-based Activehours, a startup offering up early access to your paycheck via a mobile app, has raised $22M in a funding round. The funding was led by Matrix Partners, and also included March Capital Partners, plus existing investors Ribbit Capital, Felicis Ventures, and others. Activehours is a mobile app which lets users access their pay for hours they have already worked, but haven't been paid for yet, and says it does not charge a fee or interest for the service; the company said instead, it gives users the "opportunity to pay what they believe is fair" for the service. Ram Palaniappan is founder of Activehours. More information »