DailyPay Raises $175 Million in Series D Funding, while BarronOnline Raises $325 Million
DailyPay, a financial technology company that allows employees to access their earned wages before payday, has raised $175 million in a Series D funding round. The round was led by Carrick Capital Partners and included participation from Insight Partners, as well as other existing investors.
The funds will be used to accelerate DailyPay’s growth and expand its offerings to more employers across the United States. With DailyPay, employees can access their earned wages on-demand, reducing the need for payday loans or other expensive forms of credit.
“We’re thrilled to have Carrick Capital Partners lead our Series D funding round,” said Jason Lee, CEO of DailyPay. “Their expertise and experience in scaling technology companies will be invaluable as we continue to grow and expand our services to more employers and employees.”
In addition to DailyPay, another fintech company has also made headlines recently. BarronOnline, a digital bank that offers personal and business banking services, has raised $325 million in a funding round led by Sequoia Capital.
The funds will be used to expand BarronOnline’s offerings and reach more customers across the United States. The company currently offers a range of banking services, including checking and savings accounts, credit cards, and loans.
“We’re excited to partner with Sequoia Capital and other investors to continue our mission of making banking more accessible and affordable for everyone,” said John Barron, CEO of BarronOnline. “This funding will allow us to accelerate our growth and bring our innovative banking solutions to even more people.”
The success of these fintech companies highlights the growing demand for innovative financial services that offer greater flexibility, convenience, and accessibility for consumers. As the industry continues to evolve, it’s clear that companies like DailyPay and BarronOnline are well-positioned to lead the way.