Tel Aviv [Israel]: Israeli fintech startup Tapcheck, known for its innovative on-demand pay platform, announced on Monday that it has raised $225 million in a mix of equity and debt financing.

This includes a $25 million Series A extension led by existing backer PeakSpan Capital, and a $200 million credit facility from Victory Park Capital.

Related News

Vision Rooted in Real-Life Struggles

Founded in 2019 by husband-and-wife duo Ron and Kayling Gaver, Tapcheck was born out of a mission to address the stress and limitations caused by traditional bi-weekly or monthly pay cycles.

The company allows employees to access their earned wages instantly, helping them avoid late fees, high-interest loans, and financial stress, without any cost to their employers.

“We’re tackling paycheck-to-paycheck stress and helping companies improve morale, retention, and productivity,” said Tapcheck’s co-founders.

Seamless Integration, Real Impact

Tapcheck’s system connects with nearly 300 payroll and timekeeping platforms, offering a smooth, accurate, and secure experience for both employers and employees.

The platform has proven results:

  • Over 50% improvement in employee retention
  • 70% of employees report reduced financial stress

Employers across 12,000+ locations are already using Tapcheck to support their workforce.

Over $1 Billion Disbursed in Early Wages

In just five years, Tapcheck has facilitated more than $1 billion in early wage funding, solidifying its position as a leader in the Earned Wage Access (EWA) sector.

With this new funding, the company plans to enhance its tech infrastructure, expand services, and enter new markets, aiming to reshape how the world thinks about payroll.