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DailyPay raises $500 million of capital “to transform the financial system”

May 25, 2021

The company says the money will be invested “in new market opportunities”.

DailyPay was founded in 2016. Its HQ is in New York and the operations are in Minneapolis.

It says it’s on “a mission to build a new financial system” and that 80% of Fortune 200 companies that offer on-demand pay partner with it. US corporate giants like Dollar Tree, Berkshire Hathaway, Six Flags, McDonalds, and Adecco among these.

“Through its massive data network, proprietary funding model and connections into over 6,000 endpoints in the banking system, DailyPay works to ensure that money is always in the right place at the right time for employers, merchants and financial institutions,” states the start-up.

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