The round was led by Grupo Coppel with participation from FirstMark Capital, Revolution Ventures and Colchis Capital; INSIKT has facilitated 125,000 loans over the course of three years; their white-label product provides an alternative to payday loans and is currently used by 600 banks and credit unions; funds will be used to expand to new states and internationally. Source
American Banker profiles Instant Financial which was founded in 2015; the company aims to shorten the time frame to when employees get paid; using the app employees can unlock portions of their paychecks which can provide an alternative to payday loans; they recently partnered with Sutton Bank in Ohio for their US expansion. Source