Fintech Tapcheck raises $225M—$25M Series A extension and $200M facility—to expand real-time pay
Hilton, Taco Bell, and McDonald’s among companies using the fintech’s on-demand pay service.
Tapcheck, which provides on-demand pay services, has secured $225 million in fresh financing as the fintech industry continues its push into the labor economy. The sum includes a $25 million Series A extension led by PeakSpan Capital and a $200 million credit facility from Victory Park Capital.
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Founded in 2019 by Ron and Kayling Gaver, Tapcheck enables employees to access earned wages before payday, bypassing traditional two-week pay cycles. The model, which has gained traction amid persistent economic volatility, is marketed as a tool for improving employee morale, retention, and financial stability—particularly among lower-income and hourly workers.
Tapcheck says it now serves over 12,000 employer locations and has disbursed more than $1 billion in early wage payments. Major employers using the platform include Hilton, Planet Fitness, Taco Bell, and McDonald’s, where Tapcheck currently serves 112,000 employees and has processed $160 million in wage advances.
Unlike some early wage access providers, Tapcheck offers its service at no cost to employers, integrating with over 300 payroll and timekeeping systems. This structure, the company says, has contributed to high adoption rates in the quick-service restaurant (QSR), healthcare, and skilled nursing sectors—industries heavily dependent on high-churn frontline workforces.
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According to internal metrics, Tapcheck boosts employee retention by over 50%, with 70% of users reporting lower financial stress. With inflationary pressure and interest rate volatility still squeezing household budgets, Tapcheck is positioning its offering as both a financial wellness solution and a productivity booster.
“This infusion of capital will further strengthen our capacity to empower employees nationwide,” said CEO Ron Gaver, adding that Tapcheck is developing new features to expand access and integrate artificial intelligence into its offerings. The company also plans to roll out enhanced capabilities around its Tapcheck Mastercard, enabling more seamless wage disbursements and financial planning tools.
The credit facility from Victory Park Capital is intended to support the day-to-day liquidity needed to fund wage advances.
