Embedded Finance North America
DailyPay, a platform for On-Demand Pay and financial wellness solutions, has closed a $200million upsizing to its secured credit facility.
The latest injection increases the firm’s total committed capacity to $960million. With this expansion, DailyPay has now surpassed $1billion in total debt financing backed by its On-Demand Pay receivables. This milestone figure includes both the newly upsized $960million secured credit facility and a previous $200million asset-backed securitization completed in June 2025.
Banking on employer partnerships
Deepa Subramanian, chief financial officer at DailyPay
The expanded facility is designed to support the sustained growth of DailyPay’s core On-Demand Pay platform. The technology allows employees to access their earned wages ahead of traditional paydays, while simultaneously helping employers modernise how they engage and retain their workforce.
Deepa Subramanian, chief financial officer at DailyPay, commented on the significance of the funding: “The increase of this credit facility signals strong, continued confidence in DailyPay’s employer-partnered business model. DailyPay is among employers’ most-adopted benefits. This funding allows us to support more employees and their employers, and continue modernizing the pay experience.”
New and existing lending partners
The upsized facility will be directly utilised to finance additional On-Demand Pay transfers for users across the platform.
The credit facility involves a consortium of major financial institutions, featuring both returning and newly participating banks:
- Existing lending partners: Barclays, Citi, and TPG Credit.
- New participants: TD Bank Group and Royal Bank of Canada.
According to the firm, its open technology platform delivers both instant access to earned wages and a robust suite of financial wellness solutions. The company asserts that providing these benefits gives partner employers a decisive edge in attracting, engaging, and retaining top talent in a competitive market.
