Tapcheck founders (company pic)
Tapcheck, an Israeli startup and a provider of on-demand pay solutions, has announced a major $225 million funding round to accelerate its growth and product expansion. The financing includes a $25 million Series A extension, led by existing investor PeakSpan Capital, alongside a $200 million credit facility from Victory Park Capital.
This significant capital injection strengthens Tapcheck’s position in the fast-growing earned wage access (EWA) market, empowering employers to offer flexible pay options and improving financial wellness for workers nationwide.
With this new funding, Tapcheck aims to scale its platform, enhance user experience, and meet the rising demand for real-time access to earned wages.
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The capital injection will support the continued development of Tapcheck’s newest product, designed to give millions of employees early access to their wages. It will also enhance the accessibility of Tapcheck’s Mastercard offering and accelerate the expansion of its AI capabilities. Through these advancements, Tapcheck aims to solidify its position as a leader in the next generation of earned wage access solutions.
Founded in 2019 by entrepreneurial husband-and-wife team Ron and Kayling Gaver, Tapcheck emerged from the duo’s vision to address the financial difficulties caused by traditional pay cycles. The company enables workers to access their earned wages seamlessly before payday, easing the paycheck-to-paycheck strain and in turn, improving employee morale, retention, and productivity.
In 2019, driven by a desire to combat the financial hardships of traditional pay schedules, entrepreneurial spouses Ron and Kayling Gaver launched Tapcheck. The platform offers workers seamless access to their earned income before payday, directly addressing the paycheck-to-paycheck cycle and leading to significant gains in employee morale, retention, and productivity.
“We’re thrilled to have the continued support of PeakSpan Capital and the strategic backing of Victory Park Capital,” said Ron Gaver, co-founder and CEO of Tapcheck. “This infusion of capital will further strengthen our capacity to empower employees nationwide and alleviate financial pressure by granting access to earned wages ahead of traditional pay schedules.”
Tapcheck partners with companies like Hilton, Planet Fitness, Taco Bell, and Jiffy Lube and has achieved remarkable milestones, including significant user adoption in the quick-service restaurant (QSR) sector—serving 112,000 McDonald’s employees and enabling over $160M in advance wage disbursement—as well as hundreds of thousands of frontline caregivers working in skilled nursing, home health, and rehabilitation sectors.
