The announcement comes as QRails, in partnership with payroll service providers, is about to launch a wage access solution in North America, Europe, and Australia. This fundraising round brings total funds raised to date by QRails to USD 18 million, according to the official press release.
QRails customers include fintechs, banks, and insurance companies. The company is about to launch an instant pay solution, available globally on a white-label basis to human capital management, workforce capital management and payroll processing platforms. With its first customer, QRails will be providing instant access to accrued wages to more than one million hourly employees, supporting up to USD 20 billion in annual payments when the solution is fully deployed.
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