DailyPay Completes $200M Asset-Backed Securitization, Expanding Funding Capacity for On-Demand Pay

Second asset-backed securitization supports continued growth, bringing DailyPay's total funding backed by On-Demand Pay receivables to approximately $1.4 billion

NEW YORK, Oct. 8, 2026 /PRNewswire/ -- DailyPay, the leader in On-Demand Pay, announced a $200 million asset-backed securitization (ABS) of its On-Demand Pay receivables. The transaction marks DailyPay's second ABS issuance, following its inaugural $200 million securitization in June 2025. DailyPay is the only On-Demand Pay provider to access the ABS market.

DailyPay enables employers to offer On-Demand Pay as an employee benefit, giving employees access to pay they have already earned before payday, while DailyPay funds the transfers with no impact to employer cash flow or existing payroll processes. This purpose-raised capital supports DailyPay's platform at scale, which serves more than 2,000 employers and over 6 million employees.

"Employers are increasingly embracing On-Demand Pay as a meaningful employee benefit, driving our need for funding capacity to support our growth," said Deepa Subramanian, Chief Financial Officer, DailyPay. "The strong performance of our inaugural ABS supported another oversubscribed transaction, demonstrating continued investor demand for an asset class we pioneered helping reduce our cost of capital and broadening our funding base."

The offering included four classes of notes: Class A, Class B, Class C, and Class D. Morningstar DBRS rated all classes of notes, assigning ratings ranging from AA (sf) to BB (sf), respectively. Citi acted as lead bookrunner and structuring agent, with Bank of America and Barclays serving as joint bookrunners, and KeyBanc, Scotiabank, and Wells Fargo serving as co-managers. Latham & Watkins LLP advised DailyPay, and Mayer Brown LLP advised the bookrunners.

With the latest securitization, DailyPay has secured approximately $1.4 billion in debt financing backed by its On-Demand Pay receivables, including its $960 million secured credit facility, its inaugural $200 million ABS issuance completed in June 2025, and its second $200 million ABS issuance completed in October 2026.

About DailyPay
DailyPay is the leader in On-Demand Pay, helping employers modernize how people get their pay. DailyPay serves more than 2,000 employers and over 6 million employees, including many of the world's most recognized brands. Through access to earned wages and financial wellness tools, DailyPay empowers workers to manage their finances and helps employers attract and retain talent. DailyPay is helping define the future of pay, where money moves at the speed of work. Learn more at www.dailypay.com/press.

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SOURCE DailyPay