Rocco

Rocco Finance Inc. is a financial technology company that provides early access to earned wages through a mobile application. Founded in 2020 and based in New York City, the company aims to help American workers manage cash flow between paychecks and avoid high-cost debt options like overdrafts and payday loans. The founders include John Davis, Sherman Lee, and Shannon Lee.

The Rocco app allows users to access advances on their earned income, typically ranging from $10 to $100, without a credit check, interest rates, or late fees. Eligibility is determined by factors such as income and spending patterns, requiring users to link a bank account and verify they receive regular paychecks. In addition to cash advances, the platform offers features like spending insights, real-time balance updates, and alerts for low balances to help users track their finances and prevent overdrafts.

The business model is subscription-based, with a monthly fee of $8.99. Revenue is also generated through optional fees for express transfers, which deliver funds in about 20 minutes, and voluntary tips. Standard transfers can take up to two business days. The company has raised funds through a seed round and equity crowdfunding, with investors including DealBench.

Keywords: earned wage access, EWA, cash advance, personal finance, fintech, mobile payments, financial wellness, overdraft protection, spending insights, money management, early pay, on-demand pay, wage advance, financial services, budgeting tool, paycheck access, no-interest loans, cash flow management, debt alternative, subscription finance