Texas-based Tapcheck, a leading player in the on-demand pay space, has raised a total of $225 million in a blend of equity and debt financing.
The funding includes a $25 million Series A extension led by existing backer PeakSpan Capital, along with a $200 million credit facility from Victory Park Capital, a global alternative asset manager. This significant funding milestone underscores investor confidence in Tapcheck’s mission to revolutionize payroll access.
The US-based company mentioned, that the new capital will fuel the development of its latest product, aimed at giving millions of workers early access to their earned wages. Additionally, the funds will support the expansion of Tapcheck’s Mastercard offering and bolster its AI capabilities, further strengthening its leadership in the earned wage access (EWA) space. While the company declined to disclose its valuation, the funding reflects strong momentum.
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Founders with a Vision for Payroll Innovation
Tapcheck was launched in 2019 by husband-and-wife team Ron and Kayling Gaver. Ron, whose early career began in Israel before shifting into real estate in Los Angeles, developed a deep understanding of financial systems and workforce economics. Kayling, meanwhile, brought nearly two decades of experience in payroll tech, specializing in system integrations at a top HR and payroll firm.
Speaking to TFN, the co-founders shared that they’ve worked together for 17 years and Tapcheck is their third successful venture. In scaling a previous business to $30 million in annual recurring revenue, they encountered firsthand the complications surrounding employee payroll—insights that would later inspire Tapcheck.
“Before Tapcheck, we built and scaled businesses in industries ranging from real estate to tech,” the founders explained. “Ron is a two-time founder with expertise in go-to-market strategy, and Kayling is a product leader with over 20 years in payroll tech.”
How the Idea Was Born
The concept for the scaleup emerged from a common but critical pain point: employee financial stress. With 77% of Americans living paycheck to paycheck, and only 6% having access to early wages, the financial toll on both workers and employers is massive—costing businesses an estimated $500 billion annually in absenteeism, turnover, and reduced productivity.
The idea took shape during a casual dinner conversation with friends and family, as stories of financial strain between paychecks surfaced. Drawing on their own experience managing payroll and navigating manual pay advances, Ron and Kayling saw an opportunity to build something better. That night, the vision for Tapcheck—a platform offering employees access to earned wages ahead of payday—was born.
What Tapcheck Does
Tapcheck provides employees with early access to wages they’ve already earned, helping them avoid predatory payday loans, late fees, and financial stress. The service is free for employers and integrates seamlessly with nearly 300 payroll and timekeeping systems, ensuring real-time and accurate wage calculations.
According to company data, Tapcheck boosts retention by 50% and reduces financial stress for 70% of users. With more than $1 billion in early wage funding facilitated and partnerships with over 12,000 employer locations, Tapcheck’s footprint spans industries like hospitality, healthcare, fitness, and quick-service restaurants.
Notable clients include Hilton, Taco Bell, Planet Fitness, Jiffy Lube—and Tapcheck serves over 112,000 McDonald’s employees, distributing more than $160 million in early wages. The platform also supports hundreds of thousands of caregivers in home health and skilled nursing, showcasing its wide-ranging impact.
What Makes Tapcheck Stand Out?
What differentiates Tapcheck from traditional payday lenders or other EWA providers is its user-first, empathy-driven design. “Many existing solutions are either too expensive—charging 400% annual interest—or offer a clunky, minimal experience for users,” the company explained.
Tapcheck’s advantage lies in its seamless integrations, real-time fund transfers, and white-glove customer service. Built by founders who deeply understand the problem, the platform was designed with both employees and employers in mind. It’s not just a fintech tool—it’s a financial wellness solution rooted in personal experience and real-world challenges.
What’s Next for Tapcheck?
Backed by institutional capital and led by a seasoned founding team, Tapcheck is pushing to redefine how employees interact with their earnings. With continued investment in AI, product innovation, and user experience, the company is poised to set a new standard in payroll solutions globally.
“We’re excited to continue growing with the support of PeakSpan and Victory Park Capital,” said CEO Ron Gaver. “This funding allows us to further our mission of helping employees nationwide alleviate financial pressure and gain control over their finances.”
Jack Freeman, partner at PeakSpan Capital, added: “We’ve seen Ron and Kayling build an exceptional team, deliver breakthrough products, and grow the business over 20x. Their obsession with experience, accuracy, and integration sets them apart.”
Jason Brown, senior partner at Victory Park Capital, echoed that sentiment: “Tapcheck is reshaping how employees manage their earnings. The company’s model addresses real financial needs and delivers measurable value for employers, and we’re confident in the team and vision driving it.”
