Addition led the closing of a USD 48 million Series B funding round with participation from Drive Capital, Crosscut Ventures, Bonfire Ventures, Matchstick Ventures, and HR Tech Investments LLC, a subsidiary of Recruit Holdings, among other investors. The company has also secured USD 500 million in purchased assets from funds managed by Neuberger Berman.
Branch will use the funding to deliver faster payments and inclusive financial services to W-2 and 1099 workforces through partnerships with employers, gig platforms, staffing companies, and other businesses.
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