DailyPay Secures $300 Million Credit Facility From Barclays in a Landmark Deal for the On-Demand Pay Industry

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NEW YORK CITY, N.Y. —

DailyPay, a leading technology platform, today announced it has secured a $300 million revolving credit facility from Barclays. The revolving credit facility will provide DailyPay access to significant capital to service its ever-growing roster of partners, which includes America’s leading employers. 

“A fortress balance sheet is essential to be a leading company in on-demand pay,” said Jason Lee, CEO & Co-founder, DailyPay. “This credit facility will allow us to work with more of the largest employers in the country to offer on-demand pay to their employees.”

“This deal signals a first for our industry, and pioneers a new asset class,” said Ghani Iberraken, Vice President of Capital Markets, DailyPay. “We’re proud to strengthen our mission to create a financial system that works for everyone.”

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Boom! Studios Comic-Book Films ‘Irredeemable’ and ‘Incorruptible’ in the Works at Netflix

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BAFTA Film Award winner Jeymes Samuel is set to direct

A film adaptation of Boom! Studios graphic novel series “Irredeemable” and its spin-off “Incorruptible” are in the works at Netflix, according to an individual with knowledge of the project.

BAFTA Film Award winner Jeymes Samuel is set to direct and produce. Academy Award nominated Kemp Powers (“One Night in Miami,” “Soul,”) will write the script for the adaptation, which will have the protagonists from each series face off – one a villain on a quest to become a superhero, and the other a fallen hero turned villain.

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Syndio gains more big-name backers in Candace Parker, Spencer Rascoff

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Seattle-based pay equity software startup Syndio has gained a new set of high-profile investors.

The new investors, announced Monday, are contributing to Syndio's $50 million Series C round it raised in September; a Syndio spokesperson said the round always had a portion earmarked for a diverse set of angel investors. The new investors include WNBA star Candace Parker and Zillow co-founder Spencer Rascoff through his 75 and Sunny venture fund.

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Money Moves: Legends of Learning and DC Web3 startup Fonbnk landed seed rounds

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Web3 company Fonbnk landed $3.5 million

Fonbnk, a DC-based Web3 company and alum of Techstars‘ 2021 acceleratorwith Western Union, just closed an oversubscribed funding round of $3.5 million.

Fonbnk, which describes itself in a statement as a “mission-led crypto Web3 company,” works with “unbanked and underbanked users” by offering digital money through prepaid airtime in markets across Africa, Latin America and Southeast Asia. The decentralized finance (or DeFi) platform lets users convert prepaid credits into digital money, which they can spend anywhere. Its app gives users access to cryptocurrencies such as Bitcoin and Ethereum, nonfungible tokens, and play-to-earn crypto games, as well as other services like prepaid Mastercard and Visa credit cards.

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