Tapcheck to Receive $20 Million in Funding
Improving business performance by empowering employees with financial wellness is at the heart of Tapcheck’s mission. Now, Tapcheck can expand on this mission thanks to a $20 million Series A investment led by PeakSpan Capital – a New York-based firm that prides itself in being the partner of choice for growth-stage software companies.
So, how exactly does Tapcheck boost business performance and change the lives of employees with financial wellness? We’re so glad you asked –
Tapcheck allows employees to access their earned wages before payday – alleviating the financial stress that can be caused by an unexpected expense. With 61% of the US population living paycheck to paycheck, it is easy to see why access to on-demand pay is such an attractive benefit for employees in a variety of industries.
Employees are not the only ones who benefit from Tapcheck! Employers who implement Tapcheck into their payroll are also experiencing some positive impacts. Businesses and franchises including McDonald’s, Little Caesar’s, Home Instead, ADP, and Burger King (just to name a few) have all incorporated Tapecheck into their list of benefits that are available to their employees – attracting more people to their workforce. Implementing Tapcheck costs nothing for employers, seamlessly incorporates with current payroll systems, is 100% online, and offers instant transfers 24/7.
Studies have shown that access to earned wages is mutually beneficial for employers and their employees. This access can increase employee performance, boost employee retention, and increase morale in the workplace. With this increase in performance and retention of seasoned employees, businesses may also experience a boost to their bottom line – making Tapcheck the ultimate win-win for everyone.
While providing on-demand pay for employees is something that Tapcheck is incredibly proud of, something that we believe sets us apart are our financial education tools for employees. We believe that in order to truly change lives and create lasting financial wellness, having the relevant knowledge to make positive financial decisions is crucial. We offer financial education resources on a number of topics – from credit scores and the importance of having an emergency fund to best banking practices and savings. The best part? These resources can be accessed for free from the Tapcheck website!
Thanks to the Series A investment, Tapcheck can continue on our mission to positively impact businesses and the financial wellness of the employees who keep those businesses up and running. We are thrilled to continue positively impacting the lives of hardworking employees, and we want to thank PeakSpan Capital again for their contribution to our mission!
Interested in learning more about Tapcheck and its benefits? Visit our website today to discover all that we have to offer!