Reset Financial Technologies is a technology company.
Reset Financial Technologies has raised $2.0M across 1 funding round.
Reset Financial Technologies has raised $2.0M in total across 1 funding round.
Reset Financial Technologies has raised $2.0M in total across 1 funding round.
Reset Financial Technologies's investors include Andreessen Horowitz, Costanoa Ventures, Emergence Capital, Flybridge Capital Partners, Forerunner Ventures, Global Innovation Fund, Golden Ventures, Latitud, LGF, MATH Venture Partners, Nazca Ventures, Pear VC.
Reset Financial Technologies is a fintech company founded in 2022 that builds an earned wage access (EWA) product, including a Visa card and companion app, enabling daily access to earned income for paycheck-to-paycheck workers like blue-collar, gig, service, and care economy families.[1][2][3] It serves lower-wage workers and partners with banks (e.g., Stearns Bank) and credit unions to offer fee-free tools that integrate payroll data (via Pinwheel), bank balances (via Plaid), and spending tracking for dynamic spending limits based on income, balances, and bills—solving cash flow gaps without interest, late, or monthly fees by relying on merchant interchange revenue.[1][2][4] The product drives deposit growth and engagement for financial institutions while promoting budgeting and financial health for users, with early traction including a February launch after nearly two years of development.[1][2]
Reset was founded in 2022 in Menlo Park, California, by co-founders Matt Dicou (CEO), Wes Rodriguez, and Brian Mascarenhas, all from first-generation and blue-collar families who experienced financial disparities firsthand.[1][2] The idea emerged from their recognition that most financial products ignore the "lived reality" of working-class Americans, prompting them to create tailored solutions for daily pay access and budgeting.[1][2] A pivotal moment came through partnerships: they collaborated with Synctera for tech infrastructure and sponsor bank connections, and Stearns Bank for card issuance, enabling a rapid build from idea to official Reset card launch in February—about two years post-incorporation—with integrations to Plaid and Pinwheel for seamless data access.[1][2]
Reset rides the earned wage access (EWA) trend, addressing the 78% of Americans living paycheck-to-paycheck amid rising gig/blue-collar work and payroll digitization, competing with players like Clair but differentiating via bank-embedded, fee-free models.[1][2] Timing aligns with $12.5T in annual payroll/gig/government income flowing through institutions, where Reset funnels deposits back—countering fintech-bank tensions by enabling FIs to compete without building from scratch.[2] Market forces like Plaid/Pinwheel maturity and Visa networks favor scalable EWA, while Reset influences the ecosystem by democratizing access for underserved groups, potentially accelerating responsible fintech adoption beyond consumer-only apps.[1][2][3]
Reset is poised to scale its EWA platform through more bank partnerships, leveraging Synctera-like embeds to capture payroll deposit flows and expand beyond cards into fuller financial health tools.[2][3] Trends like AI-driven budgeting, regulatory clarity on EWA, and gig economy growth (projected to hit 50% of workforce) will shape its path, amplifying impact for working-class users amid economic volatility.[1][2] Its influence may evolve from niche launcher to ecosystem enabler, redefining how FIs serve the "vast majority" of Americans—turning financial stress into stability, true to its founding mission.[2][5]
Reset Financial Technologies has raised $2.0M across 1 funding round. Most recently, it raised $2.0M Seed in February 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Feb 1, 2024 | $2.0M Seed | Andreessen Horowitz, Costanoa Ventures, Emergence Capital, Flybridge Capital Partners, Forerunner Ventures, Global Innovation Fund, Golden Ventures, Latitud, LGF, MATH Venture Partners, Nazca Ventures, Pear VC, Pioneer Fund, Portage Ventures, Precursor Ventures, QED Investors, Quona Capital, Two Sigma Ventures, Y Combinator, Zeal Capital Partners, Esther Dyson, Evan Moore, Immad Akhund, Louis Beryl, Roger Dickey, Tim Griffin |