Lowenstein represented PeakSpan Capital, a growth equity firm based in New York City and Silicon Valley, in leading a $20 million Series A funding round in Tapcheck, an employee financial wellness and earned wage access platform.
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, Carmen C. DeMatteis, Mark P. Kesslen, Kathleen A. McGee, Paul M. Krueger, Rachel Ingwer, Oluwaseyi O. Amorin, Kelsey Repka, Jessica Billeter, and Eric Sands.
About Lowenstein Sandler LLP
Lowenstein Sandler LLP is a national law firm with over 350 lawyers based in New York, Palo Alto, New Jersey, Utah, and Washington, D.C. The firm represents leaders in virtually every sector of the global economy, with particular emphasis on investment funds, life sciences, and technology. Recognized for its entrepreneurial spirit and high standard of client service, the firm is committed to the interests of its clients, colleagues, and communities.