Birmingham fintech company Immediate secures $15.5M to fuel its growth
Local financial wellness company Immediate, has secured $15.5 million to fuel its growth – with funding split between growth equity and a working capital facility.
Immediate, which is based at Innovation Depot, aims to improve the financial well-being of its users by providing on-demand access to earned wages, working directly with employers to make service available to employees.
“We could not be more excited about the impact this funding will allow us to create,” said Matt Pierce, Immediate founder and CEO. “We have proven the value of our solution to both partners and the market at large, and Immediate is now poised to continue accelerating towards our mission to positively affect the financial well-being of one million Americans over the next three years.”
The raise involved a diverse group of investors, including Rockledge Capital, with the funding reflecting growing confidence in the expanding potential of Immediate. The funding is split between growth equity and a working capital facility, allowing the company to better serve its growing user base. The company will use this round of funding to continue on its accelerated growth path in the coming years.
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