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§ Private Profile · New York City, NY, USA
Fintech company providing on-demand pay solutions for employers and their employees, focused on earned wage access.
DailyPay, Inc. has raised $1.1B across 6 funding rounds.
Key people at DailyPay, Inc..
DailyPay, Inc. has raised $1.1B in total across 6 funding rounds.
DailyPay, Inc. is a financial technology company based in New York that provides on-demand pay solutions, allowing employees to access their earned wages ahead of traditional scheduled paydays. The platform integrates directly with employer payroll systems to offer this service as a corporate benefit, currently serving over five million employees across nearly 1,000 enterprise clients. The company's customer portfolio features major corporate employers with large frontline workforces, including recognizable brands such as Dollar Tree, Target, and McDonald's. DailyPay has secured over $250 million in total equity funding across multiple rounds and notably rejected a $2 billion acquisition offer from Chime in 2022. The firm is currently led by Chief Executive Officer Nelson Chai, who previously served as an executive at Uber. The organization was originally founded in 2015 by Jason Lee and Rob Law.
DailyPay, Inc. has raised $1.1B in total across 6 funding rounds.
DailyPay, Inc.'s investors include Carrick Capital Partners, J.P. Morgan, Citi, Barclays, Angelo Gordon, Neuberger Berman, SVB Capital, Jim Madden, Andy Sessions, Broadway Angels, Dispersion Capital, Human Augmentation Syndicate.
Key people at DailyPay, Inc..
DailyPay, Inc. has raised $1.1B across 6 funding rounds. Most recently, it raised $195.0M DailyPay - Debt in January 2026.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 6, 2026 | $195M Debt Financing | Carrick Capital Partners, J.P. Morgan | Citi | Announced |
| Oct 25, 2024 | $100M Debt Financing | Citi | — | Announced |
| Jan 24, 2023 | $260M Debt Financing | — | Barclays, Angelo Gordon, Neuberger Berman, SVB Capital | Announced |
| May 20, 2021 | $500M Debt Financing | JIM Madden | — | Announced |
| Feb 1, 2018 | $9M Series B | Andy Sessions | Broadway Angels, Dispersion Capital, Human Augmentation Syndicate, Wing Venture Capital, Arun Sarin, Eric WU, Ethan Beard, JOE Greenstein, KEN Glass, Michael Birch, RON Suber, Saran Chari, DFJ Frontier, Inspiration Ventures, RPM Ventures | Announced |
| Sep 6, 2016 | $5M Series A | RPM Ventures | — | Announced |
DailyPay, Inc. is a fintech company that provides an On-Demand Pay platform, enabling employees to access their earned wages before traditional payday cycles, paired with financial wellness tools. It serves employers across industries—from Fortune 500 companies like Target, Kroger, and McDonald's to small businesses and public sector organizations—targeting frontline and hourly workers to solve cash flow issues caused by bi-weekly pay schedules.[1][3][5] The platform boosts employee financial control, improves recruitment and retention for employers, and has scaled to over 5 million users with nearly nonexistent churn, supported by $835 million in borrowing capacity and multiple funding rounds up to a $75 million Series D-1 in 2024.[3][4][5]
DailyPay was founded in 2015 by Jason Lee (Co-founder and former CEO) and Rob Law, who aimed to empower frontline workers by letting them control the timing of their pay, addressing the limitations of rigid payroll systems.[1][2][3] The idea emerged from recognizing how "invisible rules" like bi-weekly pay hindered financial fluidity for workers, merchants, and the economy; they built a technology platform combining pay balance data, banking connections, and proprietary funding.[1] Early traction came with employer-integrated On-Demand Pay in 2017, followed by rapid funding: Series A ($5M, 2016), Series B ($18M, 2018), Series C ($55M, 2019), and unicorn status in 2021 via Series D ($175M) and $500M growth capital.[3] Pivotal moments included pandemic-era acceleration for essential workers and first bank financing from Barclays in 2022; founders Lee and Law departed operating roles mid-2022 to launch Salt Labs.[2][3][4]
DailyPay stands out in the earned wage access space through these key strengths:
DailyPay rides the future of work trend, capitalizing on demands for financial flexibility amid gig economy growth, inflation, and wealth gaps for frontline workers—timing amplified by the 2020 pandemic's spotlight on essential pay needs.[2][4] Market forces like labor shortages favor it, as employers use On-Demand Pay for talent attraction/retention in retail, healthcare, and hospitality; its infrastructure influences payroll modernization, revitalizing money movement between workers, businesses, and merchants.[1][5] By partnering with thousands of employers and expanding globally, DailyPay shapes the earned wage access category, setting standards for compliant, scalable fintech that bridges traditional banking with daily earners, while inspiring ventures like Salt Labs for long-term worker equity.[2][3]
DailyPay's momentum—fueled by 2024 expansions in credit tools, small business solutions, and international markets—positions it to dominate On-Demand Pay as financial wellness becomes table stakes for employers.[3][5] Trends like AI-driven payroll, rising gig work, and regulatory pushes for worker protections will shape its path, potentially evolving into a full-spectrum money movement platform. Expect deeper enterprise integrations, more global scaling, and influence on policy, building on its economy-revitalizing foundation to ensure hard work truly pays off daily.[1][3]
