Tapcheck lands $225m in equity and debt to expand EWA platform

By Gloria Methri

Tapcheck, the US-based earned wage access (EWA) provider, has raised $225 million in combined equity and debt financing to accelerate product innovation and scale its financial wellness platform. The funding includes a $25 million Series A extension round led by existing investor PeakSpan Capital, as well as a $200 million credit facility from Victory Park Capital.

“We’re thrilled to have the continued support of PeakSpan Capital and the strategic backing of Victory Park Capital,” said Ron Gaver, co-founder and CEO of Tapcheck. “This infusion of capital will further strengthen our capacity to empower employees nationwide and alleviate financial pressure by granting access to earned wages ahead of traditional pay schedules.”

Founded in 2019 by Ron and Kayling Gaver, Tapcheck modernises traditional payroll cycles by enabling employees to access their earned wages before payday—a solution vital for frontline and hourly workers facing financial stress. The platform is fully integrated with nearly 300 payroll and timekeeping systems, and offered at no cost to employers.

Tapcheck’s platform helps reduce financial stress, a key factor influencing employee retention and productivity. Employers using Tapcheck report a 50% improvement in employee retention, while 70% of employees report that it reduces their financial stress. The company has already enabled over $1 billion in early wage funding, serving 12,000 employer locations across the US. Major brands, including Hilton, Planet Fitness, Taco Bell, Jiffy Lube, and McDonald’s, are among its partners.

​​“We are fired up to embark on this next chapter alongside Tapcheck,” said Jack Freeman, partner at PeakSpan Capital. “Over the last three years, we’ve witnessed Ron and Kayling assemble a world-class team, build game-changing products and amplify reach through growing by over 20x. They have done so while tripling down on user experience, payroll accuracy, integrations and onboarding – Tapcheck’s standout strengths, enabling the business to drive maximum value to the end user wage worker.”

The fresh capital will support the rollout of Tapcheck’s newest product line, aimed at expanding early wage access to millions of workers, and further boost adoption of its co-branded Mastercard offering. The company will also accelerate the development of AI-powered tools to enhance wage tracking and financial decision-making.

“Tapcheck is setting a new standard for how employees access and manage their earnings,” said Jason Brown, senior partner at Victory Park Capital. “By addressing real financial needs while driving retention and performance for employers, Tapcheck is delivering measurable value – and we have strong confidence in the company’s leadership, model, and mission.”