DailyPay secures $260 million revolving, term loan financing

By Marisa Wong

Los Angeles, Jan. 24 – DailyPay, Inc. announced it secured $260 million of funding divided between $160 million of revolving credit facility capacity provided by Barclays and Angelo Gordon and $100 million of new term loan funding from SVB Capital and a fund managed by Neuberger Berman.

DailyPay will use the capital to fuel growth domestically, expand internationally and further invest in product innovation, according to a press release.

DailyPay first announced a $300 million revolver from Barclays in March 2022. The additional revolver capacity consists of $100 million provided by Barclays and $60 million from Angelo Gordon.

Latham & Watkins LLP advised DailyPay on the financing transactions.

DailyPay is a financial technology company based in New York.

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