Veep

About Veep

Veep Software is a financial technology company providing an on-demand pay service, also known as Earned Wage Access (EWA). The firm was launched by the private equity firm Black Dragon Capital in 2022. The platform is designed for hourly and front-line workers, allowing them early access to their accrued wages. This service aims to reduce employees' financial stress and improve job satisfaction, functioning as an HR retention tool for employers.

Veep's platform is powered by proprietary AI models that deliver real-time, behavior-based wage access. It operates as a white-label, embeddable solution that allows payroll providers, Human Capital Management (HCM) systems, and financial institutions like credit unions to offer EWA under their own brand. This model enables clients to retain their customer relationships and create new revenue streams without the complexity of building the technology themselves. The system integrates with existing payroll and workforce management systems to provide a seamless, automated experience. Key figures in the company include CEO Drew Hyatt, and Louis Hernandez Jr., who is the Founder and Chairman of Veep and also the Founder, Chairman, and CEO of Black Dragon Capital. The company has also appointed industry veterans John Weinkowitz as COO and Charles Shepherd as Strategic Account Executive.

The company has established strategic partnerships with several credit unions, including SchoolsFirst Federal Credit Union, First Tech Federal Credit Union, and Canvas Credit Union, among others. These collaborations are part of a strategy to offer a safer, more compliant, and lower-cost alternative to other payday lending options by operating through the regulated community banking network. Veep prioritizes data privacy by partnering exclusively with regulated financial institutions and not selling employee data.