The nationwide leader in multifamily amenity services provides early wage access (EWA) as part of Earnin’s B2B program
PALO ALTO, Calif., January 18, 2022--(BUSINESS WIRE)--Earnin, the leader in building products for a more equitable financial system and a better life for employees everywhere, today announced its partnership with Valet Living, the only nationally recognized full-service amenities provider to the multifamily housing industry. With the help of Earnin, approximately 8,000 workers at Valet Living will get access to their wages as they earn them in an effort to promote holistic financial wellness.
Based in Tampa, Florida, Valet Living provides premium home-related amenity services, turn services, maintenance support, and pet solutions for property management companies and high-end apartment complexes. Since joining Earnin’s B2B program in August, Valet Living has offered this unique benefit to its associates, which is being adopted at a rapid pace.
"A majority of our workforce is built by our part-time Service Valets who we want to support when it comes to managing finances, especially in today’s economy," said Shawn Handrahan, President and CEO of Valet Living. "We reviewed several EWA solutions, but Earnin’s was the easiest to deploy as there was zero integration required with our payroll services, and some associates were already using the Earnin app regularly for more flexibility in accessing their paychecks."
Since its launch, Valet Living associates have been highly receptive, downloading the Earnin app at an accelerated rate to gain access to their paycheck as soon as they earn it.
"Partnering with Valet Living was a great fit, as both organizations believe strongly in empowering workers and providing them the tools to take control of their finances," said Ratesh Dhir, Head of Business Development & B2B at Earnin. "Valet Living associates have joined our community of more than two million members who are benefiting from greater financial wellness and reduced stress."
EWA is a growing trend among employers who are looking to enhance employee benefits and increase retention in the post-pandemic era. In fact, a recent study found that receiving early access to wages boosts overall well-being, with 82% of EWA users feeling less stressed about their financial situation.
More information on Earnin’s B2B program can be found here.
Earnin’s mission is to build products for a more equitable financial system and a better life. Earnin is designed to free people from the traditional payment cycle and help them take control of their money, starting from when they earn it. Earnin’s comprehensive suite of tools include: Cash Out, which provides access to income as it’s earned, Balance Shield, a low balance alert to help maintain a positive bank balance, Financial Calendar that helps people budget and schedule payments, and Tip Yourself, an easy way to set aside money to reach savings goals. Earnin is community-supported, with no mandatory fees or hidden costs. People tip what they choose to support the service. As of September 2021, Earnin has performed more than 125 million transactions and provided access to $10 billion in earnings for its members.
About Valet Living
Valet Living is the largest nationally recognized full-service amenities provider to the multifamily housing industry, performing more than 470 million amenity services annually, encompassing 1.8 million apartment homes in 40 states. Valet Living uses specialized technology that empowers its trusted associates to deliver standard-setting amenities in communities where people want to live. Valet Living has been setting the standard for residential living since 1995 and has been proven to increase property value. Valet Living is a portfolio company of the Private Equity Group GI Partners.
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