DailyPay, a NYC-based monetary know-how firm, secured $260m in funding.
The funding is split between revolving credit score facility capability supplied by Barclays and Angelo Gordon, and new time period mortgage funding from SVB Capital and a fund managed by Neuberger Berman.
The corporate intends to make use of the capital to speed up progress domestically, develop internationally and additional put money into product innovation.
Led by Kevin Coop, Chief Govt Officer, DailyPay delivers an on-demand pay answer with fashionable, insight-driven pay methods for employers to activate their workforce and construct relationships with their workers, so that they really feel extra engaged, work more durable, and keep longer. The corporate companions with main employers throughout varied industries, together with Fortune 500 corporations akin to Hilton, Goal, Kroger and Greenback Tree.
DailyPay is headquartered in New York Metropolis, with operations primarily based in Minneapolis and Belfast.