Tuesday, January 10, 2017

March Capital Partners Backs Activehours

Los Angeles-based venture investor March Capital Partners, the investment firm run by Jim Armstrong, Sumant Mandal, Gregory Milken, and Jamie Montgomery, has made an investment in Activehours, a new startup offering up early access to paychecks. Activehours, based in Palo Alto, said it had raised $22M in a funding round, which was led by Matrix Partners, and also included March Capital Partners, plus existing investors Ribbit Capital, Felicis Ventures, and others. Activehours is a mobile app which lets users access their pay for hours they have already worked, but haven't been paid for yet, and says it does not charge a fee or interest for the service; the company said instead, it gives users the "opportunity to pay what they believe is fair" for the service. March Capital Partners launched its new $240M venture fund back in May of 2016. More information »

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