EarnIn Secures Additional $150 Million Debt Facility

Facility from premier Canadian banking partner diversifies EarnIn’s capital base and demonstrates confidence in EarnIn’s business and financial position.

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--EarnIn, a leading earnings management and payroll software company, today announced it has secured a $150 million committed warehouse facility from one of Canada’s premier financial institutions. Together with EarnIn's existing debt investor base, the facility brings the company's total financing capacity to over $500 million across its institutional lending partners.

"Building a diversified capital base gives us greater flexibility and resiliency as we scale," said Jacopo Lenzi, Chief Financial Officer at EarnIn. "Adding a major international banking partner strengthens our lender base and lowers our cost of capital, positioning EarnIn for continued growth."

The debt facility will provide additional capacity to support long-term growth across EarnIn's entire product portfolio.

About EarnIn

EarnIn is an earnings management company on a mission to build a more equitable financial system for the people traditional finance has left behind. From on-demand earnings and early access to earnings, EarnIn helps customers take control of their money and build momentum — without debt. Through Earn Better by EarnIn and EarnIn Payroll, EarnIn extends that mission to the hiring and payroll process as well. Learn more at earnin.com.