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Total amount raised
$1.87B
Latest funding date
2026-01-05
Location
DailyPay has successfully navigated 16 funding rounds, securing investments from notable backers such as Access Industries and Citi. The platform offers on-demand pay solutions, allowing employees to access their earned wages before payday.
Keep reading to explore the intricacies of DailyPay's fundraising journey and the investors backing this innovative platform.
DailyPay has raised funding across multiple rounds backed by investors including Carrick Capital Partners, Citi, Barclays, RPM Ventures, Intercept Ventures, and Access Industries.
Keep reading to explore DailyPay's full fundraising journey, from its early Series A through its latest debt financing milestones.
What Is DailyPay?
DailyPay is a New York City-based financial technology company founded in 2015 by Jason Lee. It provides an on-demand pay platform — also known as earned wage access (EWA) — that allows employees to access their earned wages before their scheduled payday. DailyPay partners with employers across industries including healthcare, retail, and hospitality to embed its platform into existing payroll systems, offering workers real-time access to their pay and related financial wellness tools.
How Much Funding Has DailyPay Raised?
- Series A
- Amount Raised: USD 5,000,000
- Date: September 6, 2016
- Lead Investors: RPM Ventures
- Participants: Draper Frontier, Inspiration Ventures
- Series B
- Amount Raised: USD 9,000,000
- Date: February 15, 2018
- Lead Investors: Intercept Ventures
- Participants: RPM Ventures, Inspiration Ventures, Draper Frontier
- Series C
- Amount Raised: USD 55,000,000
- Date: April 2019
- Lead Investors: Undisclosed
- Series D
- Amount Raised: USD 175,000,000 (equity); USD 325,000,000 (credit facility) — USD 500,000,000 total capital package
- Date: May 18, 2021
- Lead Investors: Carrick Capital Partners
- Participants: Existing investors
- Debt Financing
- Amount Raised: USD 300,000,000
- Date: March 2022
- Lead Investors: Barclays
- Debt Financing
- Amount Raised: USD 260,000,000
- Date: January 24, 2023
- Lead Investors: Barclays
- Participants: Angelo Gordon, SVB Capital, Neuberger Berman
- Series D-1 (Equity) + Debt Financing
- Amount Raised: USD 75,000,000 (equity) + USD 100,000,000 (debt) — USD 175,000,000 total
- Date: January 18, 2024
- Lead Investors: Carrick Capital Partners (equity); Citi (debt facility)
- Participants: Existing and new institutional investors
- Debt Financing (Credit Facility Expansion)
- Amount Raised: USD 100,000,000
- Date: October 24, 2024
- Lead Investors: Citi
- Asset-Backed Securitization
- Amount Raised: USD 200,000,000
- Date: June 30, 2025
- Lead Investors: Barclays (lead bookrunner and structuring agent)
- Participants: Citi, Morgan Stanley
- Debt Financing (Senior Secured Revolving Credit Facility)
- Amount Raised: USD 195,000,000
- Date: January 5, 2026 (closed December 30, 2025)
- Lead Investors: JPMorgan Chase Bank, N.A. (administrative agent and sole bookrunner)
- Debt Financing (Credit Facility Upsizing)
- Amount Raised: USD 200,000,000 (upsizing of existing facility to USD 960,000,000 total)
- Date: February 19, 2026
- Lead Investors: Barclays
- Participants: Citi, TPG Credit, TD Bank Group, Royal Bank of Canada
Total Amount Raised: At least $1.874B based on disclosed funding across all rounds (including equity and debt financing).
Key Investors
- Carrick Capital Partners
- Details: Carrick Capital Partners is a private equity firm focused on software, SaaS, and tech-enabled services. It led DailyPay's Series D in May 2021 and the follow-on Series D-1 equity round in January 2024, making it one of DailyPay's most significant institutional backers. Carrick joined DailyPay's board of directors following the 2021 investment.
- Citi
- Details: Citi has been a key debt financing partner for DailyPay, contributing to the revolving secured credit facility and expanding its commitment to USD 200 million by October 2024. Citi also participated as a joint bookrunner in the 2025 asset-backed securitization.
- Barclays
- Details: Barclays has played a central role in DailyPay's debt strategy since 2022, leading the initial bank financing and subsequent facility expansions. Barclays also served as lead bookrunner and structuring agent for DailyPay's inaugural $200 million asset-backed securitization in June 2025.
- JPMorgan Chase Bank, N.A.
- Details: JPMorgan Chase served as administrative agent and sole bookrunner for DailyPay's $195 million senior secured revolving credit facility announced January 2026.
- RPM Ventures
- Details: RPM Ventures, an early-stage venture firm focused on B2B and B2B2C technology, led DailyPay's Series A in September 2016 and continued as a participant through the Series B round in 2018.
- Intercept Ventures
- Details: Intercept Ventures led DailyPay's Series B in February 2018, providing growth capital to help scale the earned wage access platform.
What's Next for DailyPay?
With a robust funding foundation and a valuation exceeding $1.75 billion, DailyPay is well-positioned to continue its growth trajectory. The company has been expanding its on-demand pay services internationally, launching in new markets to bring its earned wage access solutions to employees around the world. DailyPay is also focused on enhancing its product offerings, including the development of new financial wellness tools and the expansion of its Cycle by DailyPay product, which revolutionizes off-cycle payments. As the company looks to the future, it may also explore opportunities for an IPO, a path that would provide additional capital for growth and allow public investors to participate in its success. With a strong market position, a growing customer base, and a clear expansion strategy, DailyPay is set to play a significant role in reshaping the future of work and financial wellness.
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