Earnin was founded in 2012 by Ram Palaniappan. The company has not officially endorsed a plan to participate in an IPO.
Earnin is an application that allows users to draw down up to $100 daily on earned wages before payday, ultimately deducting the amount withdrawn once the paycheck is deposited. Earnin has raised almost $200 million in Venture Capital funding from investors including Cleo Capital, Coatue Management, DST Global, Spark Capital, Andreessen Horowitz, March Capital Partners, Matrix Partners, Ribbit Capital, Thrive Capital, and Trinity Venture Capital. Per company press release, Earnin last raised $125 million in December 2018 at a post-money valuation of $800 million.