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DailyPay gets $100 million expansion of secured credit facility
By Marisa Wong
Los Angeles, Jan. 22 – DailyPay has secured $100 million of expanded secured credit facility capacity provided by Citi, according to a Thursday press release.
The expansion brings DailyPay’s revolving secured debt facility to $660 million, including the existing commitments of $500 million from Barclays and $60 million from TPG Angelo Gordon.
“The additional $100 million to our credit facility comes as we continue to rapidly add new clients and users to our platform and reflects the size, scale and trajectory of the business,” commented chief financial officer Brause.
DailyPay is a financial technology company based in New York.
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