Lowenstein represented PeakSpan Capital in the transaction.
Tapcheck, an employee financial wellness and earned wage access platform, executed a $20 million Series A funding round, led by PeakSpan Capital, a growth equity firm based in New York City and Silicon Valley.
Hundreds of employers offer Tapcheck to their hourly employees, including the likes of McDonald’s, Jack in the Box, Home Instead and more. The company will use the funding to further its mission to improve business performance by empowering employees with financial wellness.
Tapcheck was founded in 2019, when its husband-and-wife founding team were inspired to find a way to help employees across the country access their earned wages before payday. Available at no cost to employers, Tapcheck uses an intuitive mobile app to give workers greater control over their finances, which reduces their stress at home and increases their productivity at work. Tapcheck’s seamless integration with existing payroll programs allows employers who incorporate on-demand earnings into their employee benefits packages to distinguish their company from competitors, reduce turnover rates, and provide the financial flexibility that employees want.
The Lowenstein deal team included Anthony O. Pergola (Picture), Carmen C. DeMatteis, Mark P. Kesslen, Kathleen A. McGee, Paul M. Krueger, Rachel Ingwer, Oluwaseyi O. Amorin, Kelsey Repka, Jessica Billeter, and Eric Sands.
Involved fees earner: Oluwaseyi Amorin – Lowenstein Sandler; Jessica Billeter – Lowenstein Sandler; Carmen DeMatteis – Lowenstein Sandler; Rachel Ingwer – Lowenstein Sandler; Mark Kesslen – Lowenstein Sandler; Paul Krueger – Lowenstein Sandler; Kathleen McGee – Lowenstein Sandler; Anthony Pergola – Lowenstein Sandler; Kelsey Repka – Lowenstein Sandler;
Law Firms: Lowenstein Sandler;
Clients: PeakSpan Capital;