DailyPay sourced $200 million from Barclays, Morgan Stanley and Citi to accelerate growth.

Portfolio CompaniesLIP Fund I
Written By Federico de Mateo

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.

Barclays was the lead bookrunner and structuring agent for the transaction, while Citi and Morgan Stanley were joint bookrunners. The transaction will enable DailyPay to work with more employers that use its on-demand wage services, according to the June 30 press release

Federico de Mateo
Previous

Iozera Partners with ZutaCore to Lead Sustainable AI Infrastructure Revolution
Next

Scientists Use AI To Combat Water Scarcity, Desertification