Fintech Tapcheck raises $225M—$25M Series A extension and $200M facility—to expand re

Here’s a structured overview of the information regarding Tapcheck:

Company Overview

• Startup: Tapcheck
• Founded: 2019
• Founders: Ron and Kayling Gaver
• Industry: Fintech (on-demand pay services)

Fundraising Details

• Total Fundraised: $225 million
  • Series A Extension: $25 million
  • Lead Investor: PeakSpan Capital
  • Credit Facility: $200 million
  • Investor: Victory Park Capital

Services Offered

• Service: On-demand pay access, allowing employees to access earned wages before payday.
• Marketed Benefits: Employee morale, retention, and financial stability for lower-income and hourly workers.

Adoption and Impact

• Employer Locations Served: Over 12,000
• Total Wage Disbursed: Over $1 billion
• Notable Clients: Hilton, Planet Fitness, Taco Bell, McDonald’s
• Employees Served: 112,000 at McDonald’s with $160 million in wage advances.
• Retention Improvement: Boosts employee retention by over 50%.
• User Financial Stress: 70% report lower financial stress.

Future Plans

• New Features: Expanding access, integrating AI, rolling out enhancements to the Tapcheck Mastercard for better wage disbursements and financial planning tools.

This summary encapsulates all relevant funding, investor, founding, and operational details for Tapcheck.

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2025-04-14 14:00:00