The funding will help Tapcheck expand its business reach. Here are the top-line bullets you need to know.
Tapcheck, an earned wage access solutions provider, has raised $20M in a Series A round that drew participation from PeakSpan Capital.
HOW’S THE COMPANY PERFORMING?
- California-based Tapcheck enables employees to gain access to earned wages prior to receiving their paycheck.
- The company has seen its revenue grow 10x year-over-year.
- The platform integrates with 100+ systems, including Paylocity, ADP, and Paychex.
- Some of its clients include McDonald’s, Jack in the Box, and Home Instead.
WHY DOES THE MARKET MATTER?
- The global HR payroll software market is expected to reach a value of $5.9B by 2025, growing at a CAGR of 4.9%, according to Apex Market Research.
- The rise of the on-demand economy as well as the increase in demand for flexible payment methods have contributed to market growth.