| Founded | 2011 |
|---|---|
| Closed | 2023 |
| Country | USA |
| Sector | Fintech |
| Collapse type | Regulatory Kill |
| Founder | Safwan Shah |
PayActiv
"SoftBank's $100M bet on free financial wellness met a CFPB enforcement order."
Forced closure by regulatory action
Key Events Timeline
PayActiv, founded by Safwan Shah and backed by $134M including a $100M Series B in 2021 from SoftBank, offered earned wage access and financial wellness to over 1,500 employers.
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