Total amount raised
$25 Million
Latest funding date
08/01/2022
Location
Tapcheck has successfully raised funding over five rounds, with the latest being a Debt Financing round. The platform offers earned wage access, allowing employees to access a portion of their earned wages before payday.
Tapcheck's most recent investors include PeakSpan Capital and Victory Park Capital. Keep reading to explore the intricacies of Tapcheck's fundraising journey and the investors backing this innovative platform.
What Is Tapcheck?
Tapcheck is a financial wellness platform that operates in the employee benefits, financial services, fintech, and mobile payments industries. Based in Plano, Texas, the company allows employees to access a portion of their earned wages before payday, aiming to reduce financial stress and improve employee retention.
Founded by undisclosed individuals, Tapcheck has grown to employ between 101 and 250 people. The company has successfully raised funding through multiple rounds, primarily through debt financing, and is backed by investors such as PeakSpan Capital and Victory Park Capital.
How Much Funding Has Tapcheck Raised?
- Debt Financing
- Amount Raised: USD 200,000,000
- Date: April 2025
- Lead Investors: Victory Park Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To redefine payday for America’s workforce, suggesting a significant expansion and enhancement of their services and market reach.
- Series A
- Amount Raised: USD 25,000,000
- Date: April 2025
- Lead Investors: PeakSpan Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance Tapcheck's mission of improving business performance by empowering employees with financial wellness.
- Series Unknown
- Amount Raised: USD 18,029,996
- Date: April 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's ongoing growth and development.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: August 2022
- Lead Investors: FIS Impact Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and expand Tapcheck's financial wellness platform.
- Series A
- Amount Raised: USD 20,000,000
- Date: June 2022
- Lead Investors: PeakSpan Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Tapcheck's operations and business reach.
Total Amount Raised: USD 263,029,996. Current Valuation: Not publicly disclosed.
Key Investors
- Victory Park Capital
- Details: Victory Park Capital is a private equity firm that provides debt and equity financing to emerging and established businesses. They have been a key investor in Tapcheck, participating in multiple debt financing rounds.
- Investment Focus Areas: Financial services, healthcare, technology.
- Notable Investments: Avant, Fundbox, Borro.
- PeakSpan Capital
- Details: PeakSpan Capital is a growth equity firm based in New York City and San Mateo. They focus on partnering with high-growth software businesses and have over $1.5 billion in assets under management.
- Investment Focus Areas: High-growth software businesses, business buyers of all sizes, technology solutions.
- Notable Investments: Tapcheck, PerimeterX, Cordial.
- FIS Impact Ventures
- Details: FIS Impact Ventures is the venture capital arm of FIS, a global leader in financial services technology. They invest in innovative companies that are transforming the financial services industry.
- Investment Focus Areas: Fintech, payments, financial services.
- Notable Investments: Not publicly disclosed.
What's Next for Tapcheck?
Tapcheck stands at the cusp of significant growth opportunities. With its seamless integration into over 100 payroll systems and partnerships with major franchises like McDonald's, the platform is poised to expand its reach. The demand for financial wellness solutions is on the rise, and Tapcheck's ability to reduce employee turnover and increase productivity makes it an attractive option for businesses looking to enhance their employee benefits.
Future fundraising appears promising, given the company's rapid revenue growth and substantial backing from investors. Tapcheck may pursue additional funding rounds to scale its operations and introduce new financial wellness features. However, the company will need to navigate challenges such as increasing competition and ensuring regulatory compliance to maintain its growth trajectory.
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