DailyPay
October 25, 2024
DailyPay Unicorn News - October 25, 2024
DailyPay, Inc. has secured an additional $100 million credit commitment from Citi, doubling their previous commitment and bringing the total credit facility to $760 million. This strategic financial enhancement supports DailyPay's expansion and ability to serve a broader client base.
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) Introduction(
) DailyPay Secures Additional $100 Million Credit Commitment from CitiDailyPay, Inc. has significantly bolstered its financial capacity by expanding its credit facility. Citi has increased its financial commitment to DailyPay by an additional $100 million, doubling its total contribution to $200 million. This enhancement raises DailyPay's total revolving secured debt facility to $760 million. The facility now comprises $500 million from Barclays, $60 million from TPG Angelo Gordon, and the increased contribution from Citi. This substantial financial support is expected to strengthen DailyPay's financial position and support its expansion plans. It will enable the company to enhance its ability to provide earned wage services to a diverse range of clients, including both large Fortune 500 companies and smaller enterprises. This expansion of resources positions DailyPay to broaden its service offerings and continue its growth in the financial services sector.
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