This post is part of our live coverage of FinovateSpring 2015.

PayActiv introduces MyMo, an app and ecosystem that help employees cover the gap between earning and spending:

PayActiv’s MyMo (My Money) app and ecosystem requires no change in existing IT or payroll process of an employer. Employees enrolled in MyMo can (1) intelligently manage their finances; (2) instantly access funds to bridge the timing gap between earning and spending; (3) deal with emergencies without taking predatory loans or having exposure to overdraft fees.

MyMo presenter: Founder and CEO Safwan Shah of PayActiv

Product Launch: November 2014

Metrics: Money raised: $6.7M; employees: 10; revenues: early revenue has begun; multiple customers signed
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed

HQ: San Jose, California
Founded: January 2013
Website: payactiv.com
Twitter: @payactiv