Tapcheck: $225 Million Secured For On-Demand Pay Provider Platform
Summary
This latest funding round includes a $25 million Series A extension round led by existing investor PeakSpan Capital and a $200 million credit facility provided by Victory Park Capital.Launched in 2019 by entrepreneurial husband-and-wife team Ron and Kayling Gaver, Tapcheck emerged from the duos vision to address the financial difficulties caused by traditional pay cycles. Set up at no cost to employers, Tapcheck enables employees to safely and responsibly access their earned wages, helping them avoid hidden fees and have greater financial flexibility. This infusion of capital will further strengthen our capacity to empower employees nationwide and alleviate financial pressure by granting access to earned wages ahead of traditional pay schedules.We are fired up to embark on this next chapter alongside Tapcheck. Over the last three years, weve witnessed Ron and Kayling assemble a world class team, build game changing products and amplify reach through growing by over 20x. By addressing real financial needs while driving retention and performance for employers, Tapcheck is delivering measurable value and we have strong confidence in the companys leadership, model, and mission.