Dailypay’s 175M Series C funding round, led by investors Beltran, marks a significant milestone for the financial technology company. The round, which was announced on May 15th, brings the company’s total funding to over $325M, and with its upcoming Series D, is expected to surpass $1B in total capital raised.
Overview of Dailypay
Dailypay is an innovative financial technology company that has been revolutionizing the way people receive and manage their pay. Founded in 2015, Dailypay has grown to become the leading provider of on-demand pay solutions for employees and employers. Dailypay’s platform provides employees with the flexibility to access earned wages before payday, enabling them to make decisions about their money in real-time. The company recently announced a massive Series 325M funding round led by Beltran, which brings their total funding to $1B. This funding will be used to further expand the company’s reach, technology, and customer base. With this funding, Dailypay is poised to become the leader in on-demand pay, offering a secure, convenient, and cost-effective solution to the traditional payroll process.
What is Series 325M and Beltran?
Series 325M and Beltran are two new funding rounds that were recently announced by the financial technology company, Dailypay. Series 325M was a $175 million Series C round of funding, while Beltran was a $1 billion Series D round of funding. The Series 325M round was led by Coatue Management, with participation from existing investors including Sapphire Ventures, Founders Fund, and Stripe. The Beltran round was led by Tiger Global, with participation from SoftBank, Coatue, and existing investors. Both of these funding rounds represent a major milestone for Dailypay. The Series 325M round brings the company’s total funding to $355 million, while the Beltran round brings the total to $1.175 billion. This additional capital will help Dailypay to continue growing and developing their digital payment platform, which allows employees to access their pay on demand. With these new funds, Dailypay is positioned to further expand their reach to more businesses and offer more payment options to their customers.
Significance of the 1B Investment
The significance of the 1B investment in Dailypay’s 175M Series 325M capital raise cannot be overstated. This marks the largest venture equity investment ever made in a payroll-related technology company, and it signals a major shift in the way businesses are managing employee pay. This new infusion of capital will enable Dailypay to expand its product offerings, strengthen its existing platform, and reach new markets. Furthermore, it demonstrates the tremendous potential of the payroll technology space and the value that Dailypay brings to the table. This investment will undoubtedly give Dailypay the resources necessary to continue to revolutionize how businesses pay their employees and how employees manage their finances.
Dailypay’s Expansion Plans
Dailypay’s Expansion Plans have kicked into overdrive with their recent Series D funding round, which raised $175 million. This brings the total amount of capital raised to $325 million, and with the latest round, the company has set its sights on a billion-dollar valuation. The investors in the round included Coatue, Founders Fund, and Tiger Global, as well as a group of strategic investors, including VISA, Citi Ventures, and SoftBank’s Vision Fund. The funding will be used to fuel the expansion of Dailypay’s payment platform and the launch of new products. The company plans to use the funds to invest in its technology, expand its engineering and product teams, and open new offices worldwide.
Additionally, the company is looking to acquire other startups to strengthen its offerings. In addition to the new funding, Dailypay recently brought on former Mastercard CEO and Chairman, Josef Ackermann, as Chairman of the Board. Ackermann has over 50 years of experience in the financial services industry and is well-respected in the industry. With his expertise, Dailypay is looking to expand its reach and become a global leader in payroll and financial services. Dailypay has been able to make tremendous progress since its founding in 2016, and with the new funding, it looks to be on track to reach its billion-dollar goal. The company’s expansion plans are expected to continue as it looks to further its mission of making financial services more accessible for everyone.
Conclusion
Dailypay’s Series 325M and 1B funding rounds, led by Beltran, are a testament to the company’s success in providing a secure and convenient payment solution for businesses and their employees. This round of funding will enable Dailypay to further accelerate its growth and expand its product offerings, making it easier for businesses to manage their payrolls. With this new capital, Dailypay is well-positioned to continue its mission of providing innovative and easy-to-use payment solutions for businesses and their employees.
