What is DailyPay?
DailyPay is a leading provider of on-demand pay solutions, transforming how employees access their earned wages. Its award-winning technology platform enables top employers across America to offer a voluntary employee benefit that supports financial well-being and boosts workforce motivation and retention. By providing immediate access to income, DailyPay helps employees manage their finances more effectively, reducing reliance on high-cost alternatives and fostering a more stable financial environment. The company's operations span New York City, Minneapolis, and Belfast, positioning it as a key player in the global fintech landscape.
How much funding has DailyPay raised?
DailyPay has raised a total of $1.2B across 8 funding rounds:
Series A
$5M
Series B
$9M
Debt
$2M
Debt
$325M
Series D
$175M
Other Financing Round
$300M
Debt
$260M
Private Equity
$75M
Series A (2016): $5M with participation from Draper Frontier, RPM Ventures, and Inspiration Ventures
Series B (2018): $9M led by RPM Ventures, Draper Frontier, Inspiration Ventures, and Intercept Ventures
Debt (2020): $2M supported by PPP
Debt (2021): $325M, investors not publicly disclosed
Series D (2021): $175M backed by Carrick Capital Partners
Other Financing Round (2022): $300M with participation from Barclays
Debt (2023): $260M led by Silicon Valley Bank
Private Equity (2024): $75M supported by Carrick Capital Partners
Key Investors in DailyPay
Carrick Capital Partners
Carrick Capital Partners is a private equity firm focused on investing in software, SaaS, and technology-enabled services. They collaborate with management teams to enhance critical business areas and ensure alignment with strategic goals.
Silicon Valley Bank
Silicon Valley Bank offers a comprehensive suite of commercial and private banking, asset management, and investment services, catering to technology and innovation-driven companies.
Barclays
Barclays PLC is a global financial services provider offering a wide range of banking and investment services to consumers, businesses, and institutions worldwide.
What's next for DailyPay?
The substantial enterprise-level funding and recent strategic investment signal a period of accelerated growth and expansion for DailyPay. This capital infusion is expected to fuel further innovation in its technology platform, enhance its market reach, and strengthen its partnerships with employers. As the demand for flexible pay solutions continues to rise, DailyPay is well-positioned to capitalize on market opportunities, further solidifying its leadership in the earned wage access industry and driving financial empowerment for a broader workforce.
See full DailyPay company page
