New updates have been reported about DailyPay.
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DailyPay has expanded its secured credit facility by $200 million to a total of $960 million, lifting its overall debt financing backed by on-demand pay receivables to more than $1 billion when combined with a $200 million asset-backed securitization completed in June 2025. The increased facility is designed to fund additional on-demand pay transfers as adoption of DailyPay’s platform grows among employers seeking to modernize payroll and enhance workforce retention.
Chief Financial Officer Deepa Subramanian said the upsizing reflects strong lender confidence in DailyPay’s employer-partnered model, with existing participants Barclays, Citi, and TPG Credit joined by new lenders TD Bank Group and Royal Bank of Canada. For executives, the move signals ample liquidity to scale transaction volume, deeper relationships with major financial institutions, and reinforced balance-sheet capacity to support further penetration of on-demand pay as a mainstream employee benefit.