Worktech DailyPay, a key player focused on on-demand payroll and employee financial wellness services, has closed a $200 million expansion of its secured credit facility. The amendment lifts the facility’s total committed capacity to $960 million, enabling the company to scale operations as demand for its wage-access platform continues to accelerate.
This latest funding round directly supports the rapid expansion of DailyPay’s core offering, which allows workers to access wages they have already earned before traditional payday.
By providing instant liquidity, the platform helps employees manage unexpected expenses while equipping employers with a digital tool to boost engagement, improve retention, and modernize compensation practices in an increasingly competitive labor market.
“The upsizing of this credit facility demonstrates enduring trust in our unique employer-integrated model,” said Deepa Subramanian, Chief Financial Officer of DailyPay.
“Our solution ranks among the most widely embraced employee benefits today. This additional capital will enable us to serve a larger number of workers and their organizations while advancing the evolution of payroll systems nationwide.”
Participating lenders in the expanded facility include longstanding partners Barclays, Citi, and TPG Credit, joined by new entrants TD Bank Group and Royal Bank of Canada.
Their involvement highlights the strength of DailyPay’s receivables-backed financing structure, which is secured by the high-quality, short-duration cash flows generated from on-demand pay advances.
Combined with the company’s $200 million asset-backed securitization completed in June 2025, the upsized facility pushes DailyPay’s total debt financing supported by its on-demand pay receivables above the $1 billion threshold.
This milestone reflects sustained platform growth and validates the company’s position at the forefront of fintech-driven payroll innovation.
DailyPay’s technology operates as an open platform that seamlessly integrates with existing payroll systems.
Beyond instant wage access, it delivers a comprehensive suite of financial wellness tools designed to enhance employee financial resilience.
Employers benefit from reduced turnover costs and stronger workforce loyalty, while employees gain greater control over their earnings and reduced reliance on high-cost alternatives such as payday loans.
The timing of this expansion aligns with broader industry trends favoring earned-wage access programs.
As organizations across sectors prioritize financial wellness benefits to attract and retain talent amid economic uncertainty, DailyPay’s model has proven particularly resonant.
The company’s ability to secure such substantial, flexible financing on favorable terms further solidifies its competitive advantage.
With this enhanced capital base, DailyPay is positioned to accelerate product development, deepen market penetration, and explore strategic opportunities that extend its leadership in transforming compensation delivery.
The announcement arrives as the fintech sector navigates evolving regulatory landscapes and shifting consumer expectations around workplace financial support.
By surpassing the $1 billion financing mark, DailyPay not only reinforces its financial stability but also signals to the market that on-demand pay has transitioned from an emerging perk to an essential component of modern employment / workforce packages.