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About DailyPay
Industries
Fintech
Financial Services
Company Size
501-1,000
Company Stage
Debt Financing
Total Funding
$1.8B
Headquarters
New York City, New York
Founded
2016
Overview
DailyPay provides earned wage access, letting employees access money they've already earned on a daily basis instead of waiting for a scheduled payday. Employers partner with DailyPay; via payroll integrations, employees request immediate payment of earned wages, which DailyPay funds and the employer pays a service fee. The platform uses payroll and time data to determine earned but unpaid wages and delivers the funds through a digital interface. Its goal is to improve employee financial wellness and retention by making payroll more flexible, with particular applicability to healthcare, retail, and restaurant sectors.
Simplify's Take
What believers are saying
- Nelson Chai (ex-Uber CFO) and Andrew Brandman (30+ years fintech ops) accelerate product innovation and market expansion.
- UK launch and international remittance feature diversify revenue beyond US, reducing regulatory concentration risk.
- $960M secured credit facility and $1B+ total debt financing enable aggressive employer acquisition and volume scaling.
What critics are saying
- New York AG lawsuit alleges 750% effective interest rates; unfavorable ruling triggers multi-state regulatory cascade.
- Competitor integration of EWA natively eliminates DailyPay's moat; employer switching costs collapse to near-zero.
- Debt refinancing cliff 2027–2028; receivables slowdown forces dilutive equity raise or asset sales.
What makes DailyPay unique
- 180+ payroll integrations with Workday, Oracle, ADP reduce employer switching costs versus competitors.
- Low transfer fees and white-label capabilities enable financial institutions like PNC to embed EWA natively.
- Market leadership in EWA payment volume with $235M revenue, 640% growth 2021–2024.
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Funding
Total Funding
$1.8B
Above
Industry Average
Funded Over
6 Rounds
Benefits
Competitive Pay
Stock Options
401(K) with 4% match
Unlimited PTO
Medical, Dental & Vision Plans
Daily Seamless Credit
Free LinkedIn Learning
Annual Learning Stipend
DailyPay for DailyPay
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 1%2 year growth
↑ 1%DailyPay, a leading on-demand pay platform, has closed a $200 million upsizing of its secured credit facility, bringing total committed capacity to $960 million. The expansion includes existing lending partners Barclays, Citi and TPG Credit, alongside new participants TD Bank Group and Royal Bank of Canada. The upsizing pushes DailyPay's total debt financing backed by on-demand pay receivables past $1 billion, including a securitisation completed in June 2025. The facility will finance additional on-demand pay transfers as the platform continues growing. DailyPay's platform allows employees to access earned wages before payday whilst helping employers improve workforce engagement and retention. Chief financial officer Deepa Subramanian said the expansion reflects strong confidence in the company's employer-partnered business model.
DailyPay announces appointment of Jennifer R. Jackson to its BOD. Former Walmart and Capital One executive brings deep financial services and consumer expertise February 19, 2026 DailyPay, the leading On-Demand Pay platform and financial wellness solution, today announced the appointment of Jennifer R. Jackson to its Board of Directors, effective February 13, 2026. "Jennifer is a strong addition to DailyPay's Board," said Nelson Chai, Chief Executive Officer, DailyPay. "She brings deep experience leading global retail and financial services organizations, pairing strategic discipline with innovation and a strong focus on the customer." Most recently, Jackson served as Senior Vice President of Merchandising at Walmart U.S., leading one of the company's multi-billion dollar retail and eCommerce portfolios. Earlier in her career at Walmart, she served as SVP of Enterprise Strategy and Innovation. Prior to Walmart, Jackson spent nearly a decade at Capital One, holding executive P&L roles. As President of Capital One Canada, she led the multi-billion dollar credit card business through crises and digital transformation. In the U.S., she managed credit card portfolios, and oversaw enterprise-wide capabilities in customer experience, payments, and risk, managing regulatory exams and pioneering agile tech integrations. "DailyPay is delivering meaningful value at the intersection of work and pay," said Jennifer R. Jackson. "I'm looking forward to partnering with the Board and leadership team and bringing my experience to support the company's next phase of growth." Jackson holds a doctorate in chemical engineering from Carnegie Mellon University and a bachelor's degree in chemical engineering from Yale University.
DailyPay, the leading on-demand pay platform, has appointed Jennifer R. Jackson to its board of directors, effective 13 February 2026. Jackson brings extensive experience from leadership roles at Walmart and Capital One. Most recently, Jackson served as senior vice president of merchandising at Walmart US, leading a multi-billion dollar retail and e-commerce portfolio. She previously held the role of SVP of enterprise strategy and innovation at Walmart. Before Walmart, Jackson spent nearly a decade at Capital One in executive positions, including president of Capital One Canada, where she led the multi-billion dollar credit card business through digital transformation. She holds a doctorate in chemical engineering from Carnegie Mellon University and a bachelor's degree from Yale University.
Stinker Stores boosts employee retention with DailyPay. Image: Stinker Storesw Stinker Stores, an Idaho-based c-store chain, is enjoying strong employee retention and less worker turnover with its partnership with DailyPay, an on-demand pay and financial wellness solutions provider. Stinker operates over 100 locations across Idaho, Colorado and Wyoming. "Our mission is to provide the best workplace experience, and our partnership with DailyPay is central to that," Frankie Lopez, payroll and benefits manager at Stinker Stores, said in the release."Offering this innovative benefit has become a vital resource to our team, directly supporting their financial wellness and proving our dedication to being the 'stinkin' best' is more than just a motto - it's how we operate."
DailyPay, a leading on-demand pay platform, has closed a $195 million senior secured revolving credit facility on 30 December 2025. JPMorgan Chase Bank serves as administrative agent and sole bookrunner for the lender group. The facility strengthens DailyPay's capital position and provides financial flexibility to support long-term growth. Chief financial officer Deepa Subramanian said the financing demonstrates the strength and scalability of the company's business model. DailyPay provides instant access to earned wages and financial wellness solutions through its technology platform, helping employers attract and retain talent by modernising the employee pay experience.
DailyPay is Hiring for 20 Jobs on Simplify!
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About DailyPay
Industries
Fintech
Financial Services
Company Size
501-1,000
Company Stage
Debt Financing
Total Funding
$1.8B
Headquarters
New York City, New York
Founded
2016
DailyPay is Hiring for 20 Jobs on Simplify!
Find jobs on Simplify and start your career today