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§ Private Profile · 3175 Hanover Street, Palo Alto, CA, 94304
Reset Financial Technologies is a technology company.
Reset Financial Technologies offers an income-linked smart card and platform, enabling individuals to access their earned wages daily without incurring fees, interest, or credit checks. The company’s core product supports a variety of income sources, including W2 employment, gig work, and Social Security benefits. Through integrations with payroll providers and financial institutions, Reset provides a dynamic spending limit that helps users manage their budgets effectively, while also empowering partner banks and credit unions with embedded neobank capabilities.
The company was co-founded in 2022 by Matt Dicou, Wes Rodriguez, and Brian Mascarenhas. Their collective insight stemmed from their backgrounds in first-generation and blue-collar families, recognizing the financial challenges and limited access to earned income faced by many working individuals. This personal understanding fueled their mission to create a more equitable and accessible financial system.
Reset primarily serves individuals seeking greater control over their finances and easier access to their earnings, while also partnering with financial institutions looking to enhance their offerings. The company’s vision is to improve the financial health of underserved communities by providing a flexible, fee-free alternative to traditional banking, fostering greater financial stability and peace of mind for its users.
Reset Financial Technologies has raised $4.3M across 2 funding rounds.
Reset Financial Technologies has raised $4.3M in total across 2 funding rounds.
Reset Financial Technologies has raised $4.3M across 2 funding rounds. Most recently, it raised $2.3M Pre-Seed in July 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 29, 2024 | $2.3M Pre Seed | Precursor Ventures | — | Announced |
| Feb 1, 2024 | $2M Seed | — | Andreessen Horowitz, Costanoa Ventures, Emergence Capital, Flybridge Capital Partners, Forerunner Ventures, Global Innovation Fund, Golden Ventures, Latitud, LGF, Math Venture Partners, Nazca Ventures, Pear VC, Pioneer Fund, Portage Ventures, Precursor Ventures, QED Investors, Quona Capital, TWO Sigma Ventures, Y Combinator, Zeal Capital Partners, Esther Dyson, Evan Moore, Immad Akhund, Louis Beryl, Roger Dickey, TIM Griffin | Announced |
Reset Financial Technologies has raised $4.3M in total across 2 funding rounds.
Reset Financial Technologies's investors include Precursor Ventures, Andreessen Horowitz, Costanoa Ventures, Emergence Capital, Flybridge Capital Partners, Forerunner Ventures, Global Innovation Fund, Golden Ventures, Latitud, LGF, MATH Venture Partners, Nazca Ventures.
Reset Financial Technologies is a fintech company founded in 2022 that builds an earned wage access (EWA) product, including a Visa card and companion app, enabling daily access to earned income for paycheck-to-paycheck workers like blue-collar, gig, service, and care economy families.[1][2][3] It serves lower-wage workers and partners with banks (e.g., Stearns Bank) and credit unions to offer fee-free tools that integrate payroll data (via Pinwheel), bank balances (via Plaid), and spending tracking for dynamic spending limits based on income, balances, and bills—solving cash flow gaps without interest, late, or monthly fees by relying on merchant interchange revenue.[1][2][4] The product drives deposit growth and engagement for financial institutions while promoting budgeting and financial health for users, with early traction including a February launch after nearly two years of development.[1][2]
Reset was founded in 2022 in Menlo Park, California, by co-founders Matt Dicou (CEO), Wes Rodriguez, and Brian Mascarenhas, all from first-generation and blue-collar families who experienced financial disparities firsthand.[1][2] The idea emerged from their recognition that most financial products ignore the "lived reality" of working-class Americans, prompting them to create tailored solutions for daily pay access and budgeting.[1][2] A pivotal moment came through partnerships: they collaborated with Synctera for tech infrastructure and sponsor bank connections, and Stearns Bank for card issuance, enabling a rapid build from idea to official Reset card launch in February—about two years post-incorporation—with integrations to Plaid and Pinwheel for seamless data access.[1][2]
Reset rides the earned wage access (EWA) trend, addressing the 78% of Americans living paycheck-to-paycheck amid rising gig/blue-collar work and payroll digitization, competing with players like Clair but differentiating via bank-embedded, fee-free models.[1][2] Timing aligns with $12.5T in annual payroll/gig/government income flowing through institutions, where Reset funnels deposits back—countering fintech-bank tensions by enabling FIs to compete without building from scratch.[2] Market forces like Plaid/Pinwheel maturity and Visa networks favor scalable EWA, while Reset influences the ecosystem by democratizing access for underserved groups, potentially accelerating responsible fintech adoption beyond consumer-only apps.[1][2][3]
Reset is poised to scale its EWA platform through more bank partnerships, leveraging Synctera-like embeds to capture payroll deposit flows and expand beyond cards into fuller financial health tools.[2][3] Trends like AI-driven budgeting, regulatory clarity on EWA, and gig economy growth (projected to hit 50% of workforce) will shape its path, amplifying impact for working-class users amid economic volatility.[1][2] Its influence may evolve from niche launcher to ecosystem enabler, redefining how FIs serve the "vast majority" of Americans—turning financial stress into stability, true to its founding mission.[2][5]