Today In Digital Banking: Revolut Payday Speeds Wage Access; CloudPay And One Grab New Funds

Today in digital banking, CloudPay grabs $58 million in a fundraising round. Plus, Revolut Payday gives employees early access to their wages, and One rakes in $40 million in Series B funding.

Revolut Intros Payday Early Wage Access For UK

Revolut is partnering with employers in the U.K. to offer early wage access to their employees with the FinTech’s latest financial services product. Payday enables employees to draw down a portion of their wages as they earn them and instantly transfer the funds into their accounts, Revolut said in a press release on Thursday (Aug. 19).

CloudPay Sees Hike In Demand For Treasury Services, Nets $58M In Funding

Global pay provider CloudPay has raised $58 million in a new fundraising round, according to a press release. With the new funds, CloudPay is preparing to continue growing its employee pay solution. The company works on unifying global payments systems.

One Finance Closes $40M Series B Funding Round

FinTech One has closed a $40 million Series B funding round, according to an announcement from One Founder and CEO Brian Hamilton. The round, which included investments from Progressive, Foundation Capital, Obvious Ventures, Core Innovation Capital and others, will help One “build upon the feedback from our early customers to innovate on the financial products that mean the most to them,” Hamilton said in the announcement.