DailyPay Completes $200M Asset-Backed Securitization to Support On-Demand Pay Growth
DailyPay, the leading provider of on-demand pay services, has completed a second asset-backed securitization (ABS) for $200 million. This follows its first ABS issuance in June 2025 and brings DailyPay's total funding backed by On-Demand Pay receivables to approximately $1.4 billion. The transaction includes four classes of notes rated from AA(sf) to BB(sf), with Citi as lead bookrunner and other major banks participating. The securitization supports the expansion of DailyPay’s platform, which serves over 2,000 employers and six million employees by enabling access to earned wages before payday. CFO Deepa Subramanian highlighted strong investor demand for this asset class, noting that it helps reduce costs and broaden funding sources. DailyPay's continued success in the ABS market underscores its leadership position as the only on-demand pay provider with such financing capabilities.
Topics: asset-backed securitization funding growth On-Demand Pay