Tapcheck, a U.S.-based FinTech specialising in on-demand pay solutions, has secured $225m in combined equity and debt financing to accelerate the growth of its earned wage access platform.
The funding round includes a $25m Series A extension led by existing investor PeakSpan Capital and a $200m credit facility provided by Victory Park Capital.
Founded in 2019 by Ron and Kayling Gaver, Tapcheck aims to ease financial stress caused by traditional pay cycles by allowing employees to access their earned wages ahead of payday. Its platform integrates with nearly 300 payroll and timekeeping systems and is offered to employers at no cost.
The newly raised capital will support the development of Tapcheck’s latest product, aimed at expanding early wage access to millions of workers. It will also fund the enhancement of Tapcheck’s Mastercard-linked solution and boost its investment in AI-driven capabilities.
Over the past five years, Tapcheck has delivered more than $1bn in early wage payments across 12,000 employer locations. The platform is designed with a strong emphasis on compliance, security, and transparency, ensuring accurate wage calculations while maintaining employer payroll controls. Tapcheck has earned an ‘Excellent’ rating on Trustpilot and is considered one of the most reliable providers in the earned wage access space.
The company has built a robust client base that includes household names such as Hilton, Planet Fitness, Taco Bell, and Jiffy Lube. It has gained significant traction in the quick-service restaurant industry, with 112,000 McDonald’s employees having received more than $160m in advance wage payments through the service. Tapcheck also supports hundreds of thousands of frontline healthcare workers.
Tapcheck CEO Ron Gaver said, “We’re thrilled to have the continued support of PeakSpan Capital and the strategic backing of Victory Park Capital. This infusion of capital will further strengthen our capacity to empower employees nationwide and alleviate financial pressure by granting access to earned wages ahead of traditional pay schedules.”
PeakSpan Capital partner Jack Freeman said, “We are fired up to embark on this next chapter alongside Tapcheck. Over the last three years, we’ve witnessed Ron and Kayling assemble a world class team, build game changing products and amplify reach through growing by over 20x. They’ve done so while tripling down on user experience, payroll accuracy, integrations and onboarding – Tapcheck’s standout strengths, enabling the business to drive maximum value to the end user wage worker.”
Victory Park Capital senior partner Jason Brown said, “Tapcheck is setting a new standard for how employees access and manage their earnings. By addressing real financial needs while driving retention and performance for employers, Tapcheck is delivering measurable value – and we have strong confidence in the company’s leadership, model, and mission.”
This $225m round builds on the company’s earlier Series A funding, which also included PeakSpan Capital as a key investor.
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