$125M in Series C funding for Earnin mobile app

Get paid instantly using your bank account – this is possible with the Earnin mobile pay app.

According to the company’s announcement, the $125 million in Series C financing was raised from a group of investors such as Andreessen Horowitz, Spark Capital, DST Global, Matrix Partners, Ribbit Capital, Coatue Management, March Capital Partners and a16z Cultural Leadership Fund.

Earnin, launched in 2014, allows users to instantly get funds they have earned and sent directly to their bank accounts, without traditional fees, loans or hidden costs. Users provide voluntary tips based on what they think is a fair price.

The Earnin community includes workers from more than 50,000 employers from every state in the country.