DailyPay signs $300 million revolving credit facility from Barclays

By Mary-Katherine Stinson

Lexington, Ky., March 16 – DailyPay received $300 million in new funding from a revolving credit facility with Barclays, according to a Thursday press release.

The facility will provide significant capital to assist the company in expanding to serve more large employers to offer on-demand pay services.

Latham & Watkins LLP was the adviser to DailyPay.

Mayer Brown LLP was the adviser to Barclays.

This is the latest in new capital for DailyPay. Previously, the company announced in May 2021 that it secured $500 million of capital, including a $175 million series D equity raise.

Headquartered in New York, DailyPay is a technology platform that delivers on-demand pay to American employers.

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