PayActiv Raises $20 Million

PayActiv, a provider of employment-based holistic financial wellness services, closed $20 million from Generation Partners in a Series B financing round. Generation Partners has joined early round investors Ziegler Link•Age Fund II and affiliate funds of Softbank Capital in helping PayActiv end predatory fees and debt cycle for millions of workers.

PayActiv is promoting its mobile and global holistic financial wellness tools, including bill pay, budgeting and savings tools, discounts, financial counseling and education, and multiple instant funds availability options for immediate access to earned wages.