# DailyPay

DailyPay is an Asset Manager based in New York, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** 55 Water Street, New York, NY 10041, United States
- **Founded:** 2015
- **Assets under management:** Undisclosed
- **Website:** dailypay.com
- **LinkedIn:** https://www.linkedin.com/company/dailypay

## Regulatory record

- **Reports private funds:** No

## About

DailyPay is an on-demand pay platform that integrates with employers' payroll systems to give employees flexible access to their earned wages. The company serves over 1,000 clients and provides financial wellness tools including savings, credit health, and a rewards card. Founded in 2015, DailyPay has raised multiple funding rounds and expanded globally with a UK launch.

## Sectors

- FinTech
- Enterprise Software
- Human Resources

## People

- Nelson Chai — Chief Executive Officer
- Deepa Subramanian — Chief Financial Officer
- Andrew Brandman — Chief Operating Officer
- Poulomi Damany — Chief Product Officer
- David Dyar — Chief Technology Officer
- Jared DeMatteis — Chief Legal & Strategy Officer
- Jon Lowe — Chief People Officer
- Caitlin Allen — Chief Brand and Communications Officer
- Amanda Hayes Fagan — VP, Business Operations

## Questions

### How does DailyPay fund the wage advances if it isn't a bank?

DailyPay uses a warehouse lending model, not employer prefunding. It secured the first bank financing of an on-demand pay receivable portfolio with Barclays in 2022, and now maintains $835 million in total borrowing capacity. Each employee transfer is funded from these credit lines, and the firm repays itself from the normal payroll run on payday.

### What distinguishes DailyPay's model from other earned wage access providers?

DailyPay carries the credit risk of the advance on its own balance sheet rather than requiring the employer to prefund a float. The firm integrates directly into over 180 HCM and time-management systems to calculate real-time earned pay, and it services the full transaction — from transfer to repayment — without the employer needing to change its normal payroll process.

### Which industries does DailyPay explicitly target?

The firm identifies eight verticals on its website: hospitals and healthcare, grocers and supermarkets, retail, call and contact centers, restaurants and QSR, manufacturing, travel and hospitality, and the public sector. In 2024 it accelerated its government expansion and launched in the UK.

### What is Nelson Chai's background, and why was he brought in?

Nelson Chai served as CFO of Uber, where he led the company's push to profitability and its 2019 IPO. He previously held C-suite roles at Merrill Lynch, NYSE Euronext, CIT Group, and Warranty Group. His experience managing large, complex balance sheets and regulated financial operations aligns with DailyPay's need to scale its warehouse lending and risk infrastructure.

### What has DailyPay built beyond the core early wage access product?

It has launched the DailyPay Visa Prepaid Card with cash back and savings tools, a tips product that gives workers instant access to gratuities, a small-business self-serve tier, and a credit health tool. It also operates Cycle, a module for off-cycle payments like bonuses and reimbursements.

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- [KEO World](https://altss.com/profile/keo-world)

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Last updated: 2026-07-10T22:20:23.000Z

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