DailyPay Partners with isolved to Uplift Small Businesses By Offering Financial Wellness Solution

Earned wage access provider DailyPay closed on a $200 million asset-backed securitization deal with investment banks Barclays, Citi and Morgan Stanley, the earned wage access provider said in a press release last week. The transaction closed on June 25, according to a spokesperson for the company.

In the United States, small businesses make up 99.9% of companies and employ about 59 million people. For so many, the flexibility to proactively manage finances is essential to help avoid late payment fees and costly financial quick-fixes. 

Companies are leveraging DailyPay to solve for rising absenteeism, which costs companies billions in lost productivity each year. When employees know they can have access to their pay after each shift, it motivates them to show up for work. In fact, 55% of employees say they pick up at least one extra shift per month according to research from Arizent, commissioned by DailyPay. 

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