Immediate Raises $16 Million in Growth Funding to Expand Earned Wage Access Services
Summary
Earned wage access company, Immediate, has successfully closed a $16 million round of funding, consisting of growth equity and a working capital facility. Joining the funding round were strategic investors such as Georgia-based community bank BankSouth, as well as Bryan Statham and Cynthia Johnson, experienced Birmingham executives. Bryan and Cynthia have actively contributed to Immediates growth and success, offering valuable guidance in an advisory capacity.Immediate has also secured an expanded working capital credit facility from SouthPoint Bank, a prominent financial institution in the southeastern region. The decision to work with SouthPoint Bank was driven by their exceptional products, services, and mission to propel businesses forward.Ryan Gilbert, Founder and General Partner at Launchpad Capital, expressed enthusiasm for Immediates offerings in the Earned Wage Access sector. As Immediate strives to positively impact the financial well-being of one million American workers by 2025, the funding and support from investors are instrumental in accelerating the companys growth trajectory.