DailyPay secures $260M in debt to fund global push
What's the deal? DailyPay, the New York-based early wage access provider, has raised $260 million in debt financing. The package combines a $160 million revolving credit facility from BarclaysDealroom has a profile for this one. Try Dealroom → and hedge fund Angelo GordonDealroom has a profile for this one. Try Dealroom → with a $100 million term loan from SVB Capital and Neuberger BermanDealroom has a profile for this one. Try Dealroom →.
What's the endgame? DailyPay lets employees access earned wages before payday, serving clients including HiltonDealroom has a profile for this one. Try Dealroom →, TargetDealroom has a profile for this one. Try Dealroom →, KrogerDealroom has a profile for this one. Try Dealroom →, and Dollar TreeDealroom has a profile for this one. Try Dealroom →. The company said the financing will fund domestic growth, international expansion, and new products.
Why now? The raise follows the appointment of chief executive officer Kevin Coop in March 2026. DailyPay said it has signed more clients under his leadership.
By the numbers: The round lands in the top 10% of all debt rounds ever raised by US fintech companies, a sample of 2,229 deals. It builds on a $300 million Barclays credit facility in March 2026 and $500 million in equity and credit secured in 2021.
"Our opportunity lies in capturing more of the market," Coop said. "Our track record of trust and investment from the world's leading financial institutions validates our business model and path forward."
What could go wrong? DailyPay operates in a crowded field, with rivals including Payactiv, EarnIn, and Even Responsible Finance — by some estimates, as many as 30 players. The sector also faces mounting scrutiny: advocacy groups including the NAACP and the Center for Responsible LendingDealroom has a profile for this one. Try Dealroom → have urged the Consumer Financial Protection BureauDealroom has a profile for this one. Try Dealroom → to reverse rules that let these firms charge fees.
The signal: Debt, not equity, is fuelling this raise — a route that lets DailyPay scale its lending book without diluting ownership. As earned wage access matures, the winners will need both capital depth and regulatory staying power.
Read more: Akibia
Image credit: Generated with Gemini
