DailyPay, a specialty finance leader in On-Demand Pay and financial wellness solutions, has completed its first-ever $200 million asset-backed securitization (ABS) backed by On-Demand Pay receivables, creating a new asset class in the fintech sector. The transaction, supported by major financial institutions and led by Barclays, Citi, and Morgan Stanley, enables DailyPay to expand its ability to serve employers seeking flexible pay solutions for their workers, addressing the widespread paycheck-to-paycheck cycle. With this milestone, DailyPay has now secured nearly $1 billion in total debt financing.

DailyPay Completes Inaugural Asset-Backed Securitization, Powering its Mission to Break the Paycheck-To-Paycheck Cycle for Millions of Workers