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  • July 2023 (Revised February 2024)
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Clair

By: Lauren Cohen, Grace Headinger and Marcos Quirno
  • Format:Print
  • | Language:English
  • | Pages:19
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Abstract

Clair was founded with a simple mission: to expedite America’s workers access to their hard-earned wages. In the headwinds of the COVID-19 pandemic, the startup had successfully raised a seed round of $4.5 million, and within two years the earned wage access (EWA) FinTech had partnered with 10 human capital management system providers to access over 8,000 employers and over 300,000 employees. However, as the economic outlook plummeted and available external capital began to dry up, Clair’s founders considered whether other business models offered more attractive prospects for the startup’s long-term success. Should Clair stay the course or choose to pivot, and what tradeoffs would each pathway entail? With investors requiring a clear long-term vision and a viable path to profitability, this decision would determine Clair’s ability to thrive and fulfill its founding mission.

Keywords

Fintech; Ewa; Lending; Technology; Business Startups; Growth and Development Strategy; Social Enterprise; Business Strategy; Business Model; Mission and Purpose; Venture Capital; Profit; Financial Services Industry; United States

Citation

Cohen, Lauren, Grace Headinger, and Marcos Quirno. "Clair." Harvard Business School Case 224-015, July 2023. (Revised February 2024.)
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About The Author

Lauren H. Cohen

Finance
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Related Work

    • July 2023 (Revised February 2024)
    • Faculty Research

    Clair

    By: Lauren Cohen, Grace Headinger and Marcos Quirno
Related Work
  • Clair By: Lauren Cohen, Grace Headinger and Marcos Quirno
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