U.S. fintech startup Tapcheck has raised $225 million in combined equity and debt funding to scale its earned wage access (EWA) platform, which enables workers to access their wages ahead of payday. The round includes a $25 million equity extension led by existing backer PeakSpan Capital and a $200 million credit facility from Victory Park Capital.
Founded in 2019 by Ron and Kayling Gaver, Tapcheck was created to address the financial stress caused by traditional pay cycles. The platform allows employees to tap into their earned income before payday—without added costs for employers—helping reduce financial strain and improve workforce retention.
The company integrates with nearly 300 payroll and time-tracking platforms, serving over 12,000 business locations. Tapcheck reports significant outcomes: 70% of users say the service lowers financial anxiety, and participating employers have seen up to 50% gains in employee retention.
Tapcheck has disbursed more than $1 billion in early wage payments to date. It works with major employers across industries like hospitality, healthcare, and quick-service restaurants—including supporting over 112,000 McDonald’s employees and advancing $160 million in wages in that sector alone.
The new capital will go toward developing a new product designed to expand wage access even further, enhancing the reach of Tapcheck’s Mastercard-powered solution, and building out AI-driven features to improve the employee experience.
“This investment helps us bring greater financial flexibility to even more workers,” said co-founder and CEO Ron Gaver. “We’re committed to creating solutions that benefit employees without burdening employers.”
As on-demand pay becomes a critical part of modern workforce benefits, Tapcheck is doubling down on scale, precision, and responsible innovation to lead the next generation of EWA platforms.