Sorbet secures a $25 million debt facility from Pier Asset Management to meet the demand for solutions allowing employees to access the value of their unused PTO.
The fintech platform has received over 200,000 applications totaling more than $75 million in unlocked PTO value, highlighting the enthusiasm for modern financial tools.
Sorbet introduces a new payroll integration feature through Pinwheel, enabling users to connect their accounts for seamless repayments directly from their paychecks.
This financing and product enhancement aim to expand Sorbet's reach, offering a unique way for employees to utilize their unused PTO as a financial resource.