DailyPay Raises $75M Equity Plus $100M Credit for Earned Wage Access

DailyPay secured $75M in equity financing alongside a $100M credit facility in January 2024, according to PwC's FinTech Insights report. The company operates an embedded payroll fintech platform that allows employers to offer earned wage access — enabling employees to access their earned but unpaid wages before traditional payday. This model embeds financial services directly into the employer-employee relationship, representing a key embedded finance use case in the payroll vertical.

DailyPay partners with employers and integrates into existing payroll systems, effectively creating a B2B2C distribution channel for financial products. The combined $175M in funding provides both growth capital and lending capacity to support the company's pay-on-demand infrastructure. The investment reflects continued demand for embedded payroll solutions that improve employee financial wellness while creating new revenue streams for employers.

DailyPay's platform sits at the intersection of payroll technology and embedded finance, a segment that has seen growing enterprise adoption.