Tapcheck, a Texas-based fintech in the on-demand pay space, has raised $225 million in combined equity and debt financing. This major funding milestone includes a $25 million Series A extension led by PeakSpan Capital, and a $200 million credit facility from Victory Park Capital. The round highlights strong investor belief in Tapcheck’s mission to improve financial wellness for millions of American workers.
With this new capital, Tapcheck plans to scale its early wage access platform, expand its AI capabilities, and increase adoption of its Mastercard offering. The company aims to give employees more control over when they get paid—without disrupting employer payroll systems.
The Founders Behind Tapcheck’s Mission
Tapcheck was founded in 2019 by Ron and Kayling Gaver, a husband-and-wife duo with a history of building businesses together. This is their third successful venture.
Ron’s early career in Israel and later work in real estate gave him a deep understanding of complex financial systems and the stress they place on workers. Kayling, with over 20 years in payroll technology and system integration, brought deep product expertise and operational insight. Together, their experiences managing large teams and struggling with payroll delays inspired Tapcheck’s creation.
The idea took shape during a casual dinner with friends, where the conversation turned to financial stress and the burden of waiting for payday. Having faced similar challenges with employee advances in past ventures, the Gavers envisioned a better way—one that became the foundation of Tapcheck.
Tackling Financial Insecurity Head-On
Financial stress is a hidden cost for businesses, driving $500 billion in lost productivity annually due to absenteeism, turnover, and low morale. A staggering 77% of Americans live paycheck to paycheck, yet only 6% have early access to their wages. Tapcheck is closing that gap.
The platform lets employees access earned wages before payday through real-time, accurate calculations. It integrates seamlessly with nearly 300 payroll and timekeeping systems, requiring no cost or changes for employers.
This solution isn’t just about convenience. It’s helping employees avoid payday loans and late fees, while boosting morale and loyalty. Companies using Tapcheck report a 50% improvement in retention, and 70% of employees say it eases their financial stress.
Since launch, Tapcheck has disbursed over $1 billion in early wage funding, serving more than 12,000 employer locations across the U.S. It’s made a strong impact in sectors like hospitality, healthcare, fitness, and quick-service restaurants (QSRs).
Major brands such as Hilton, Taco Bell, Planet Fitness, and Jiffy Lube have adopted Tapcheck. One standout achievement includes distributing $160 million in advance wages to 112,000 McDonald’s employees. Tapcheck also supports hundreds of thousands of caregivers in skilled nursing and home health.
What Makes Tapcheck Stand Out
While other earned wage access (EWA) options exist, many are either costly or clunky. Traditional payday loan alternatives can carry interest rates exceeding 400%, and many EWA tools lack solid customer support or integration capabilities.
Tapcheck takes a different approach. With native integrations, real-time payments, and white-glove customer support, it provides a seamless experience for both employers and workers. More importantly, the platform is designed with empathy, rooted in the founders’ real-world experiences managing payroll and workforce needs.
Tapcheck’s vision goes beyond wage access. With its tech roadmap, strong institutional support, and experienced leadership, the company is redefining the future of workplace financial wellness.
“This investment allows us to expand our reach and continue empowering employees nationwide,” said Ron Gaver, Tapcheck’s CEO. “We’re committed to giving people the financial flexibility they need to reduce stress and build a stronger future.”
PeakSpan Capital’s Jack Freeman added, “In just a few years, Ron and Kayling have built a world-class team and grown Tapcheck by 20x. They’ve done it while staying laser-focused on product quality, user experience, and integration depth—setting a new standard in the category.”
Victory Park Capital’s Jason Brown echoed that confidence: “Tapcheck addresses a real need. It improves employee well-being while driving retention and performance for employers. We’re proud to support its mission.”
With new funding, innovative products on the horizon, and a growing customer base, Tapcheck is well-positioned to lead the next wave of payroll disruption—making pay more flexible, inclusive, and empowering.
