Tel Aviv [
Israel
On April 15 (ANI/TPS), Tapcheck, a
Israel
i
fintech
startup
That provides an on-demand payment system declared on Monday that it has secured $225 million in total funding.
equity
And debt financing. This recent update
funding
features an extended Series A funding of $25 million from current investor PeakSpan Capital, along with a $200 million credit line arranged by Victory Park Capital.
In 2019, entrepreneurs Ron and Kayling Gaver launched Tapcheck with the aim of tackling the financial challenges brought about by conventional payroll systems. This firm allows employees to readily obtain their accrued earnings prior to receiving their official paycheck, thereby alleviating the stress associated with living paycheck to paycheck. Consequently, this approach enhances worker satisfaction, loyalty, and efficiency.
Tapcheck’s on-demand payment system works seamlessly with almost 300 payroll and time-tracking software solutions, providing an accurate and streamlined experience for both bosses and workers. Employers can use this service free of charge, enabling staff members to “securely and prudently” get hold of money they’ve already earned. This helps prevent extra charges and gives employees more control over their finances.
According to the firm, employers utilizing Tapcheck have observed more than a 50 percent enhancement in staff retention rates. Additionally, 70 percent of workers indicate that this service decreases their monetary worries.
Over the last five years, Tapcheck has enabled more than USD 1 billion in advanced wages.
funding
and catered to over 12,000 business addresses. (ANI/ TPS)
Provided by Syndigate Media Inc. (
Syndigate.info
).