DailyPay Scoops Up Over $175M
Summary
NEW YORK, NY, DailyPay, the leading on-demand pay company, today announced it has secured over $175 million to fuel growth. The funding is divided between $100 million of expanded secured credit facility capacity provided by Citi and over $75 million in equity financing, which valued the company at $1.75 billion on a pre-money basis. The equity financing from both existing and new investors, led by Carrick Capital Partners, will be deployed to further accelerate DailyPays continued product innovation and to drive its expansion into adjacent categories and new markets. As the industrys leading on-demand pay solution, DailyPay uses an award-winning technology platform to help Americas top employers build stronger relationships with their employees. This voluntary employee benefit enables workers everywhere to feel more motivated to work harder and stay longer on the job, while supporting their financial well-being outside of the workplace.