Percapita

What Percapita does

Percapita Group, Inc. is a Delaware-incorporated, New York-headquartered digital financial wellness company founded in 2020 to serve hourly workers, paycheck-to-paycheck earners, and other underbanked consumers that traditional banks underserve. Its core product is a mobile-first banking platform accessible via iOS, Android, and the web, anchored on a fee-free Cash Account with a Percapita Visa Debit Card issued by Sutton Bank (Member FDIC), with access to 40,000+ fee-free ATMs through MoneyPass and Visa Plus Alliance. The platform layers savings sub-accounts (Goals Account, Needs Account), automated round-up savings (Penny Jar), a $25 no-fee overdraft buffer (Cash Cushion), bill pay, international transfers to 75+ countries (powered by Brightwell and The Bancorp Bank N.A.), in-app tax filing and planning (powered by April Tax Solutions), rent reporting for credit building (powered by Rock the Score), and financial education via Percapita Plays.

The business operates a hybrid GTM model. Direct-to-consumer, users download the app and open accounts self-serve; in parallel, a B2B motion targets employers, nonprofits, and community organizations to offer Percapita as a sponsored employee benefit, with a four-step enrollment process (Company Enrollment, Payroll Provider Connectivity, Employee Sign Up, funding destination), free implementation, no launch fees, and no minimums. Earned wage access (Percapita Pay, powered by Immediate) lets employees of participating employers draw up to $250 of already-earned wages up to four times per pay period, with a $3.50 fee on instant debit-card transfers. Revenue is generated almost entirely through debit-card interchange, with secondary streams from international transfer fees, fixed tax-filing fees, and interchange-funded cash back rewards (up to $300 annually, capped at the first 7,000 approved accounts).

Percapita has raised approximately $44.7 million cumulatively across two SEC exempt offerings ($29.6M sold in February 2023, $15M+ sold toward a $24.5M target in December 2025), and is led by a Wall Street–pedigreed executive team including CEO Alex Ehrlich (formerly Goldman Sachs, Morgan Stanley, UBS), CTO Tony Pizi (former CTO of Merrill Lynch), CRO Aliah Greene, and CSO Keith Mestrich (former CEO of Amalgamated Bank). The company remains private, operates from a single New York office at 169 Madison Avenue, and currently employs 11–50 people.

Name

Percapita

Legal name

Percapita Group, Inc.

Website

https://percapita.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Percapita is a New York-based, mobile-first digital banking and financial wellness platform founded in 2020, serving hourly workers and paycheck-to-paycheck earners with a fee-free Cash Account, debit card, savings tools, earned wage access, bill pay, international transfers, tax filing, and credit building, distributed both direct-to-consumer and through employer-sponsored B2B partnerships.

Ownership category

akta.pro rank

Product category

Digital Banking Services

SIC

Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Embedded Payroll, Earned Wage Access & Benefits Finance (FSAGALAI)

akta.pro secondary industries

Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Cross-Border B2B2C Payouts (Mass Payouts, Gig/Creator, Marketplace) (FSAGAKAC)

Keywords

• Digital banking
• Mobile banking
• Financial wellness
• Earned wage access
• Employee financial benefit

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Core Banking Services: Percapita generates revenue primarily through interchange fees on Visa debit card transactions. The core Cash Account with no monthly fees generates revenue each time users use their Percapita Visa Debit Card for purchases. Additional revenue may come from optional service fees such as the $3.50 fee for instant wage access transfers to debit cards.
2. Cash Back Incentive Program: The company offers up to $300 cash back annually ($25 per month for spending $300/month), funded by interchange revenue and designed to drive card adoption and spending volume
3. International Transfers: International money transfer services to 75+ countries with applicable fees. Services provided through Brightwell with regulated transfers via The Bancorp Bank N.A.
4. Tax Filing Services: Fixed fee tax filing service powered by April Tax Solutions, Inc., available within the Percapita app
5. B2B Organization Subscriptions: Organizations can offer Percapita as an employee benefit at no cost to the organization. Revenue is generated indirectly through increased card adoption and interchange fees when employees and their families use the app

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Percapita provides a fee-free digital banking platform through a mobile app and web interface, centered on a Cash Account with a Visa Debit Card issued via Sutton Bank. The platform bundles earned wage access (Percapita Pay), automated round-up savings (Penny Jar), a $25 no-penalty Cash Cushion, bill pay, international transfers to 75+ countries, in-app tax filing and planning, rent reporting for credit building, and cash back rewards. It also offers a B2B program for employers, nonprofits, and community organizations to deliver the platform as a financial wellness employee benefit with free implementation.

Product overview

Percapita is a digital financial wellness company offering a mobile-first banking platform with multiple integrated products. The core offering consists of the Percapita App, the Percapita Cash Account (the main spending account), and the Percapita Visa Debit Card. These are supported by savings sub-accounts including Goals Account and Needs Account, which work alongside the Penny Jar round-up savings feature. The platform includes earned wage access (Percapita Pay), Bill Pay, International Transfers (powered by Brightwell), and tax services (Tax Planner and Tax Filer powered by April Tax Solutions). Additional features include Cash Cushion for overdraft protection, Rent Reporting for credit building, and Percapita Plays for financial education. For organizations, Percapita offers a B2B platform to provide these financial wellness tools as an employee benefit with co-branding and integration capabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• Percapita App Mobile-first digital banking app providing access to financial wellness tools including spending accounts, savings features, bill pay, international transfers, earned wage access, tax services, credit building, and cash back rewards. Available on iOS and Android, with a Spanish-language web experience available at /es. Targets hourly workers, paycheck-to-paycheck earners, and other underbanked consumers.
• Percapita Cash Account Core FDIC-insured spending account provided through Sutton Bank, Member FDIC, with no monthly fees, no overdraft fees, no minimum balance, and access to 40,000+ fee-free ATMs through the MoneyPass and Visa Plus Alliance networks. Funds are eligible for FDIC insurance up to $250,000 on a pass-through basis.
• Percapita Visa Debit Card Physical debit card issued by Sutton Bank under Visa license, usable anywhere Visa debit is accepted. Drives interchange fee revenue for Percapita and enables participation in the cash back rewards program.
• Percapita Pay Earned wage access service powered by Immediate, allowing employees of participating organizations to access up to $250 of already-earned wages up to four times per pay period before payday. Free via ACH transfer (next-day); $3.50 fee for instant transfer to any debit card.
• International Transfers International money transfer service enabling users to send funds to 75+ countries outside the U.S., powered by Brightwell with regulated services provided through The Bancorp Bank N.A. under the ReadyRemit framework. Fees apply per transaction.
• Tax Filer In-app tax filing service powered by April Tax Solutions, Inc., enabling users to file taxes directly within the Percapita app with a fixed fee and automatic data import.
• Cash Back Program Rewards program offering $25 monthly cash back to users who spend $300 or more per month with their Percapita Visa Debit Card, up to $300 annually during the first year. Funded by interchange revenue and designed to drive card adoption and spending volume.
• Rent Reporting Credit building feature powered by Rock the Score that reports on-time rent payments to credit bureaus, helping users build or improve their credit history.
• Percapita for Organizations B2B employee financial wellness benefit platform enabling employers, nonprofits, and community organizations to offer Percapita to their workforce or constituents. Includes personalized app experience, custom incentives, co-branded marketing, payroll provider connectivity, and free implementation with no launch fees, integration fees, or minimums.

Quantifiable outcome

• Access to earned wages before payday
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature7 records

Partnerships

Eight partnerships are on record, tiered core and supporting.

• Sutton BankcoreOthersSutton Bank, Member FDIC, provides FDIC-insured deposit accounts for Percapita users. The Percapita Visa Debit Card is issued by Sutton Bank pursuant to a license from Visa U.S.A. Inc. Funds in deposit accounts are eligible for FDIC insurance up to $250,000 on a pass-through basis.
• ImmediatecoreTechnology or IntegrationImmediate powers Percapita Pay, the earned wage access feature that allows users to access up to $250 of their already-earned wages before payday, up to 4 times per pay period.
• April Tax Solutions, Inc.coreTechnology or IntegrationApril Tax Solutions powers the Tax Filer and Tax Planner tools available within the Percapita app, enabling in-app tax preparation, filing, and refund estimation.
• Rock the ScoresupportingTechnology or IntegrationRock the Score powers the rent reporting feature that allows users to build credit by reporting their on-time rent payments.
• BrightwellcoreTechnology or IntegrationBrightwell provides international money transfer services enabling Percapita users to send money to 75+ countries outside the U.S. Brightwell is a technology provider and not a bank or regulated financial institution.
• The Bancorp Bank N.A.supportingTechnology or IntegrationThe Bancorp Bank N.A. provides regulated international transfer services associated with ReadyRemit, which are offered through the Percapita international transfer feature.
• Visa U.S.A. Inc.coreTechnology or IntegrationVisa licenses the Percapita Visa Debit Card brand to Sutton Bank. The debit card can be used anywhere Visa debit cards are accepted.
• MoneyPass / Visa Plus AlliancesupportingTechnology or IntegrationNetwork of 40,000+ fee-free ATMs available to Percapita users through MoneyPass and Visa Plus Alliance partnerships.

Scale indicators4 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• MoneyLion: MoneyLion is a U.S. digital finance platform offering fee-free banking, RoarMoney account, Instacash advances (EWA), credit builder loans, and financial tracking tools. It targets similar underbanked and credit-building consumers and offers overlapping features with Percapita's EWA, rent reporting, and savings tools.
• Varo Bank: Varo is a U.S. digital bank (with its own bank charter since 2020) offering fee-free checking, high-yield savings, and early direct deposit to underbanked consumers. It is a direct peer to Percapita with an overlapping fee-free banking model and underbanked target customer, with Varo offering a structural advantage through its own bank charter.
• Earnin: Earnin is a pioneer in earned wage access, allowing users to access up to $750 of their earned wages before payday with a tip-based model. It is a direct peer to Percapita Pay and targets the same underbanked, hourly-worker customer base seeking early wage access.
• Dave: Dave is a U.S. financial wellness app offering cash advances (ExtraCash up to $500), budgeting tools, and a checking account (Dave Banking) targeting paycheck-to-paycheck workers. It is a direct peer to Percapita given its overlapping EWA + checking account + budgeting offering for hourly and gig workers.
• PayActiv: PayActiv is an earned wage access and financial wellness platform distributed primarily through employers and B2B partnerships, allowing employees to access earned wages before payday. It is a direct peer to Percapita Pay with a similar B2B employer-channel distribution model and overlapping payroll-integrated EWA + financial wellness positioning.
• Branch: Branch is a workforce payments platform offering earned wage access, free checking accounts, and a fee-free debit card distributed through employer partnerships. It is a direct peer to Percapita with a near-identical B2B employer-channel model and overlapping EWA + banking product set for hourly workers.
• Current: Current is a U.S. digital banking platform targeting underbanked consumers with a fee-free spending account, debit card, savings pods, and earned wage access (paycheck advances up to $200). It is a direct peer to Percapita with overlapping product features (savings pods ≈ Goals Accounts, payday advance ≈ Percapita Pay) and the same underbanked target customer.
• Albert: Albert is a U.S. financial wellness app combining a checking account, debit card, automated savings, early wage access (Instant up to $250), and financial planning tools. It is a direct peer to Percapita, mirroring the same bundle of EWA + savings automation + fee-free banking for underbanked consumers.

Broad incumbents

• Chime: Chime is the largest U.S. neobank offering fee-free checking, high-yield savings, early direct deposit, and earned wage access through MyPay. It serves a similar paycheck-to-paycheck customer base as Percapita but at vastly greater scale and brand recognition, positioning it as a broad incumbent competitor in the underbanked digital banking space.

Emerging players

• Greenlight: Greenlight is a U.S. fintech offering family-focused banking, debit cards for kids and teens, savings, and investing tools. While Greenlight primarily targets families and youth rather than adult hourly workers, it is an emerging peer in the financial wellness and education space that overlaps with Percapita's broader savings and education features.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/@thepercapitaapp
• LinkedInlinkedin.com/company/thepercapitaapp
• Instagraminstagram.com/thepercapitaapp

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Percapita