DailyPay is a software company that allows workers to control when they are paid. It raises $175M Series A and $325M debt funding. At the time of writing, the company’s value is $1B+.
(Luisa Beltran/Barron’s Online)
Since its inception, Jessica Mah, an entrepreneur, has enjoyed great success with the company. It has partnered with many businesses such as Walmart, United Parcel Service, and Adecco, a major staffing firm.
DailyPay employs over 120,000 people and pays them nearly $500 million annually. Its goal to negotiate better pay arrangements with large employers is its number one priority.
DailyPay clients and their employees achieve more exceptional results because our on-demand-pay platform is different from any other.
Jessica Mah, CEO at DailyPay, stated that DailyPay was creating a new era of career workers and empowering them to control their financial destiny. We’re connecting over 120,000 employees to their employers, and creating a platform that allows employees and employers to make better decisions about how they spend money.
The company raised $71M funding in its May 2017 funding round. This time, it has surpassed the $200M mark. It raised significant capital in December 2017 to fund its growth.
The company has seen rapid growth, and now has more than 100k customers. Many of its employees were recently hired back. The company’s value is immense and I have asked for more details. Although this is highly speculational, I am confident it is large enough to be picked up by CNBC and other media outlets.
Xpring, a Ripple business, led this funding round. Greycroft, DRW Venture Capital, FirstMark Capital and Greycroft are some of the other investors in this seed-round.