Wallit

Wallit is a benefits commerce platform that consolidates employee benefits, perks, wellness programs, rewards, and expense reimbursements into a single digital wallet. Employers allocate monthly allowances across benefit categories and employees link their existing debit or credit cards, so purchases at any online or in-store retailer draw from the Wallit balance instead of requiring a separate benefits card. The platform combines benefits administration, enrollment, payments, embedded insurance, and the wallet itself, and it also runs a merchant program for brands and retailers that want to reach benefit spend. Originally founded as Ourly, a digital allowance product, it rebranded to Wallit in 2019 and has raised roughly $13M from investors including Water Bear Ventures, BrokerTech Ventures, and Plug and Play.

It works off cards employees already carry rather than issuing another benefits card, so employers can fund flexible allowances that spend anywhere while administration, enrollment, insurance, and payments stay in one system.