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Immediate Announces $16M Growth Financing

BIRMINGHAM, AL, Immediate, an earned wage access company, announced today a $16 million round of funding.
These funds, split between growth equity and a working capital facility, will enable Immediate to accelerate its growth trajectory in the workplace financial health sector.

The funding round was led by Castle Creek Launchpad, a joint fund managed by Castle Creek Capital and Launchpad Capital that invests in fintech companies that are transforming financial services through partnerships with regulated financial institutions, including the fund's 34 community bank limited partners. Also participating in the funding round were strategic investors including BankSouth, a Georgia-based community bank, and Birmingham executives Bryan Statham and Cynthia Johnson.

Immediate partners with employers to provide their employees with wages that have been earned but not paid, whenever they are needed. With seamless time tracking and payroll integrations, same-day and next-day bank transfers, and the ability to put earnings directly on a debit card, Immediate is working to improve financial wellness and eliminate cycles of debt for employees by allowing access to their hard-earned wages when they need it most.
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