rewrite this title Reset Lands $6 Million in Seed Funding for Embedded Earned Wage Access – Finovate

Reset raised $6 million in seed funding from credit union customers and partners to expand its embedded earned wage access platform for credit unions and community banks.

The company positions earned wage access as a tool to deepen relationships and grow deposits, reporting that cardholders increase deposits by 27%, maintain 36% higher balances, and generate 20% more interchange revenue.

Credit unions increasingly view earned wage access as competitive infrastructure to defend primary financial relationships against digital banks and neobanks.

Embedded earned wage access platform Reset unveiled today that it has raised $6 million in seed funding. The investment, which comes from credit union customers and strategic partners in the credit union and community banking space, boosts Reset’s total funding to more than $8 million.

Reset will use the funds to expand its sales and implementation capacity, deepen product development, and accelerate existing deployments.

California-based Reset, which aims to serve credit unions and community banks, embeds its technology directly into financial institutions’ existing technology stacks to enable members to access their earned wages on a daily basis, fee-free, via a card issued by the credit union or community bank.

“When your customers lead your funding round, there is no clearer market signal,” said Reset CEO and Co-founder Matt Dicou. “These credit unions aren’t just writing a check. They’re making a decision about where they want to take their members, their institutions, and the credit union industry. They see that Chime and other neobanks are successfully recruiting people away from credit unions today. Our credit union partners already have trusted member relationships. We give them what they need to remain the primary financial home.”

Reset anticipates that the earned wage card will help financial institutions grow direct deposits, since the more a member deposits, the more real-time funds they can access. The company said that cardholders increase deposits held at their credit union by 27% and maintain checking account balances 36% higher than before switching cards.

In addition to the earned wage feature, Reset also helps credit unions generate credit interchange revenue on cardholder’s everyday spend. The company said that its cardholders generate 20% more in credit interchange revenue for their institution.

Rather than viewing earned wage access as simply another product offering, many credit unions increasingly see these tools as infrastructure to defend primary financial relationships, capture direct deposits, and compete against digital banks. As neobanks continue using faster access to money as a customer acquisition tool, features like earned wage access may become table stakes rather than differentiators.

Georgia’s Own Credit Union’s investment in Reset highlights this shift from product experimentation toward competitive infrastructure. “Our members are already looking for this, and until now, they’ve had to turn to other options,” said Georgia’s Own Credit Union CTO Kevan Williamson. “Reset levels the playing field for our members. We invested because we’ve seen what it does for members’ financial stability, and because we believe credit unions should be the ones offering it.”

Photo by Towfiqu barbhuiya on Unsplash

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