DailyPay Upsizes Secured Credit Facility to $960 Million

WHY THIS MATTERS: The expansion of DailyPay’s secured credit facility to nearly a billion dollars is a powerful indicator that the Earned Wage Access (EWA) sector has moved past its novelty stage and cemented its place as a cornerstone of modern benefits infrastructure. This massive debt financing, backed by the platform’s receivables, provides the necessary operational capital to handle the immense volume of instantaneous pay transfers across a growing user base. For the wider fintech ecosystem, this development validates the employer-partnered model, demonstrating deep institutional confidence from major banks and credit providers. The key takeaway is not just the size of the fundraise, but its structure: the ability of an EWA company to continually secure future pay flows proves the stability and scalability of its underlying asset class. This level of commitment accelerates the industry’s shift toward real-time payments as the default payroll experience, redefining liquidity for millions of workers and signaling the future direction of workforce management solutions.

DailyPay, the leading On-Demand Pay platform and financial wellness solution, announced the closing of a $200 million upsizing of its secured credit facility, increasing total committed capacity to $960 million. 

The expanded facility supports the sustained growth of DailyPay’s On-Demand Pay platform, which gives employees access to their earned pay while helping employers modernize how they engage and retain their workforce.

“The increase of this credit facility signals strong, continued confidence in DailyPay’s employer-partnered business model,” said Deepa Subramanian, Chief Financial Officer, DailyPay. “DailyPay is among employers’ most-adopted benefits. This funding allows us to support more employees and their employers, and continue modernizing the pay experience.”

The upsized facility, which will help finance additional On-Demand Pay transfers, includes existing lending partners Barclays, Citi, and TPG Credit, and new participants TD Bank Group and Royal Bank of Canada.

With this upsizing, DailyPay now has more than $1 billion in debt financing backed by its On-Demand Pay receivables, including the newly upsized $960 million secured credit facility and the $200 million asset-backed securitization completed in June 2025.

FF NEWS TAKE: The move to over $1 billion in total debt financing marks a significant scaling moment for DailyPay, cementing their position as a market leader backed by strong capital markets validation. This undeniably moves the needle for the entire EWA space. What comes next is crucial: watch for two things—how this capital enables expansion into new employer verticals, and any corresponding regulatory pressure tha inevitably follows when an emerging financial category achieves this level of maturity.