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Based in Miami, Florida, Clockout is a financial technology company that provides embedded earned wage access solutions for banks and credit unions alongside a social networking application for young professionals. The enterprise software integrates directly into banking applications to allow consumers to access their accrued wages prior to payday without requiring employer participation. The platform has secured integration partnerships with major core banking providers including Q2, Jack Henry, and Fiserv to facilitate regional bank deployments. On the consumer side, the company's networking application has generated more than $3 million in annual recurring revenue, reaching over 75,000 active users and 400,000 cumulative application downloads. To support its ongoing expansion, the enterprise has raised $1.6 million in initial funding from venture capital backers such as Techstars and Brickyard VC. Clockout was founded in 2021 by Krishna Dosapati.
Clockout has raised $380K across 2 funding rounds.
Clockout has raised $380K in total across 2 funding rounds.
Clockout has raised $380K across 2 funding rounds. Most recently, it raised $50K Seed in March 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Mar 1, 2024 | $50K Seed | — | Bread And Butter Ventures, Erez Capital | Announced |
| Jul 1, 2022 | $330K Seed | — | Bread And Butter Ventures, Mayfield | Announced |
Clockout has raised $380K in total across 2 funding rounds.
Clockout's investors include Bread and Butter Ventures, Erez Capital, Mayfield.
Clockout is a Miami-based fintech startup that provides an Earned Wage Access (EWA) solution enabling bank and credit union customers to access earned wages before payday directly through their banking apps.[1][2][4] It serves financial institutions and their account holders—primarily workers facing cash flow gaps—by solving the problem of delayed paychecks without employer involvement or predatory loans, while helping banks attract direct deposits and boost customer retention.[1][2] Clockout has raised $1.6 million in funding, is closing a $1.5 million seed round backed by Techstars, Brickyard VC, and OneSixOne Ventures, and partners with major core banking providers like Q2, Jack Henry, and Fiserv, with initial launches planned in Tennessee, Indiana, New York, and Florida.[1]
Clockout emerged from the need to empower workers with flexible pay access without third-party apps or employer hurdles, led by co-founders including CEO and COO based in Cooper City, Florida.[1][4] The idea crystallized around integrating EWA directly into banks' digital platforms via APIs and SDKs, allowing users to link payroll, switch direct deposits, and advance wages seamlessly.[1][2] Early traction includes partnerships with three of the top five U.S. core banking providers, powering thousands of banks, and pilots with regional banks set to launch soon, alongside $1.6 million raised and a seed round in progress.[1]
*Note: Some sources reference unrelated entities (e.g., a professional networking app), but Clockout's core business is confirmed as EWA for banks.[1][2][4]*
Clockout rides the Earned Wage Access trend, addressing the $10B+ U.S. market for instant pay amid gig economy growth and cash flow challenges for hourly workers.[1][2] Timing aligns with banks seeking differentiation in digital banking competition, as EWA boosts deposits without high costs—unlike standalone fintechs requiring separate apps.[1][2] Market forces like regulatory scrutiny on predatory lending favor compliant, bank-led solutions, while core provider partnerships scale Clockout to millions, influencing fintech by shifting EWA from employer-tied to consumer-bank models and enhancing ecosystem deposit growth.[1][2]
Clockout's bank-centric EWA positions it for rapid scaling, with near-term launches and seed funding fueling U.S. expansion beyond initial states.[1] Trends like open banking APIs and rising demand for embedded finance will accelerate adoption, potentially growing to serve tens of millions via partners. Its influence may evolve by redefining banks as payday hubs, pressuring competitors and drawing more VC interest—betting big on wages when needed, not just on payday.[1]
