Simplify Logo

Full-Time

Product Counsel

Confirmed live in the last 24 hours

DailyPay

DailyPay

501-1,000 employees

Provides daily access to earned wages

Financial Services
Fintech

Compensation Overview

$150k - $200kAnnually

+ Variable Incentive Compensation + Stock Options

Mid

Remote in USA

Category
Legal
Legal & Compliance
Required Skills
Communications
Requirements
  • 3+ years of legal experience, including practicing in a corporate area at a top law firm and/or in-house experience in a technology-related or start-up environment
  • Interest in integrating with and advising product teams on the development of new, innovative and compliant products in a quickly evolving legal/regulatory landscape
  • Superb leadership, interpersonal, verbal, and written communication skills
  • Ability to multi-task, prioritize, and independently manage a high volume of work
  • Ability to move fast and thrive in a dynamic, fast-paced environment with a growing team
  • Sound legal judgment, commercial awareness, and business acumen
  • Highest degree of professionalism, integrity, and ethical judgment
  • Juris Doctor degree from an ABA-accredited, nationally recognized top law school and bar admission
Responsibilities
  • Draft, review, and negotiate a broad range of complex vendor agreements and documentation to support DailyPay’s evolving business, including terms of use, master services agreements, statements of work, technology licensing agreements, partnership agreements, payment network/association agreements, and financial institution partnership agreements
  • Review consumer-facing communications and disclosures with an eye toward clarity, ease of understanding, and legal and regulatory compliance
  • Ensure that DailyPay’s policies and procedures are followed and that all commercial agreements comply with company policies, other contractual obligations, and applicable laws and regulations, including data privacy and data security requirements
  • Provide legal and regulatory support to senior management and other company stakeholders
  • Collaborate in the development of business processes and procedures to help scale DailyPay’s business

DailyPay provides a service that allows employees to access their earned wages on a daily basis instead of waiting for traditional pay periods like bi-weekly or monthly. This service works by partnering with businesses, which pay a fee to offer their employees the option of on-demand pay. By giving employees the ability to access their wages as they earn them, DailyPay helps improve financial control and flexibility for workers. This approach has been shown to increase employee retention and engagement, particularly in industries such as healthcare, retail, and restaurants, where turnover rates are often high. DailyPay's goal is to enhance employee satisfaction and reduce turnover costs for businesses, potentially saving millions annually in sectors that struggle with labor shortages and high quit rates.

Company Stage

Series D

Total Funding

$1.4B

Headquarters

New York City, New York

Founded

2016

Growth & Insights
Headcount

6 month growth

7%

1 year growth

17%

2 year growth

11%
Simplify Jobs

Simplify's Take

What believers are saying

  • DailyPay's service has been shown to increase employee time on the job by an average of 27%, which can significantly improve business operations and reduce turnover costs.
  • The company's recent $175 million funding round and 75% increase in valuation to $1.75 billion indicate strong financial health and growth potential.
  • Expanding its earned wage access solution to small businesses opens up a new market segment, potentially driving further growth and adoption.

What critics are saying

  • The departure of CEO Kevin Coop and transition to interim CEO Stacy Greiner could lead to strategic and operational uncertainties.
  • The competitive landscape in the fintech and employee benefits sectors is intense, with new entrants and existing players potentially eroding DailyPay's market share.

What makes DailyPay unique

  • DailyPay's focus on providing daily access to earned wages sets it apart from traditional payroll services that operate on bi-weekly or monthly cycles.
  • The company's service is particularly valuable in high-turnover industries like healthcare, retail, and restaurants, addressing specific pain points related to employee retention and financial wellness.
  • DailyPay's partnerships with major payroll providers like ADP and Acrisure enhance its market reach and integration capabilities, making it a more attractive option for businesses.

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