Who founded Payactiv?

Payactiv was founded by Shah Safwan, Sohail Aslam in 2011.

Who are Payactiv's investors?

Payactiv's investors include Acorn Pacific Ventures, RPS Ventures.

How much funding has Payactiv raised?

Payactiv has disclosed $4.3M raised across 1 of its 2 known rounds.

Where is Payactiv headquartered?

Payactiv is headquartered in San Jose, US.

Payactiv

San Jose, US · Founded 2011 · 2 known investors

Find your way into Payactiv

498 people in our graph share verified history with the Payactiv team — schools, employers, funds. One of them is your warm intro.

Darcy Nauntonunlockedknows Shah Safwan · together at Payactiv (overlapped)

×3knows the team · via TSYS [Infonox, a TSYS company]

×8knows the team · via UC Santa Cruz

Payactiv provides Earned Wage Access (EWA), letting workers access wages they have already earned before payday to avoid payday loans and overdraft fees. Operating as a Public Benefit Corporation and Certified B-Corp, the company also offers Visa prepaid and payroll cards to help employees manage financial needs.

Fintech Future of Work HR Tech Impact & Social Good Wellness & Fitness

Founders & leadership

Payactiv was founded in 2011 by Shah Safwan and Sohail Aslam.

Shah Safwan Founder and CEOShah Safwan founded Infonox, a financial data aggregation company that was acquired by TSYS and integrated into Global Payments, and later founded Payactiv, which developed earned wage access services. He holds a PhD in Aerospace Engineering from the University of Colorado Boulder and serves on the board of Conscious Capitalism.

Sohail Aslam Co-Founder / CTOSohail Aslam held technology and product leadership roles at Microsoft, Philips Healthcare, and TSYS before co-founding Stookle and Payactiv, a financial wellness platform providing earned wage access and payroll-linked benefits.

Board

Ajit MedhekarBoard director

Kabir MisraBoard directorGeneral Partner at RPS Ventures

Scarlett O'SullivanBoard director

Investors · 2

Acorn Pacific Ventureslisted by Acorn Pacific VenturesSan Mateo

RPS Ventureslisted by RPS VenturesLos Altos · $5M – $20M

Reported raises · per SEC filings

Form D private placements

$4.3M disclosed across 1 of 2 rounds · 2014–2020

▶$4.3MraisedJun 2014 · 6 investors · Other Technology

Rule 506(b)

Officers, directors & promoters on the filing

Shah SafwanExecutive Officer, Director
Ajit MedhekarDirector
Kabir MisraDirector
Scarlett O'SullivanDirector

Offering amount: $5.2M
Amount sold: $4.3M
First sale: Jun 2014
Incorporated: Corporation, Delaware, 2011
Federal exemptions: 06b

Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Founder mafia

3 people who came through Payactiv went on to found or lead other companies.

Darcy NauntonDirector (Australia)Founded YBF Ventures Jeffrey BriceDirector of Product ManagementFounded TrustEgg Snigdha KumarProduct Management InternFounded Brico

In the news

Payactiv Raises $100M for Employer Financial Wellness - Payactivpayactiv.com · Aug 2020

Frequently asked questions

What does Payactiv do?: Payactiv provides Earned Wage Access (EWA), letting workers access wages they have already earned before payday to avoid payday loans and overdraft fees. Operating as a Public Benefit Corporation and Certified B-Corp, the company also offers Visa prepaid and payroll cards to help employees manage financial needs.
Who founded Payactiv?: Payactiv was founded by Shah Safwan, Sohail Aslam in 2011.
Who are Payactiv's investors?: Payactiv's investors include Acorn Pacific Ventures, RPS Ventures.
How much funding has Payactiv raised?: Payactiv has disclosed $4.3M raised across 1 of its 2 known rounds.
Where is Payactiv headquartered?: Payactiv is headquartered in San Jose, US.