Pinwheel Raises $20M for Payroll Connectivity

/ / Pinwheel Raises $20M for Payroll Connectivity

Pinwheel has raised $20M in Series A funding from Coatue with participation from Primary Ventures, Semper Virens and support from existing investors, First Round Capital and Upfront Ventures plus angel investors. Pinwheel has now raised a total of $27M in reported equity funding.

“Our focus is to ensure that we deliver as much value and delight as we can to both existing customers as well as to new ones. That means continuing to invest in growing our best-in-class coverage of payroll platforms, improving our market-leading conversion rates, and continuing to build our world-class team. This new funding will allow us to do exactly that,” Kurt Lin, co-founder & CEO said.

Pinwheel is a “payroll connectivity” API. It helps neobanks and other clients connect into a users’s payroll information system, offering everything from direct-deposit switching to income verification, and paycheck-linked lending.

Announcement: Pinwheel Raises $20M for Payroll Connectivity