What does Tapcheck do?
Tapcheck is an on-demand pay provider that enables workers to access their earned wages before payday. This service helps alleviate the paycheck-to-paycheck strain, improving employee morale, retention, and productivity while partnering with major brands in various industries.
How much did they raise?
The funding round included a $25M Series A extension led by PeakSpan Capital and a $200M credit facility provided by Victory Park Capital, totaling $225M in combined equity and debt funding.
What are their plans for the money?
The company plans to use the fresh capital to expand its operations and further develop its platform, potentially broadening its reach and impact in enhancing workers’ financial well-being.
What have they achieved so far?
Tapcheck has made significant strides, including rapid user adoption in the quick-service restaurant sector by serving 112,000 McDonald’s employees and facilitating over $160M in advance wage disbursement, along with successes in the skilled nursing and home health care sectors.
