Latham & Watkins Advises DailyPay in Additional US$100 Million Financing Extension, Bringing Total Revolver Capacity Close to US$1 Billion

DailyPay, Inc., a leading fintech company and leading provider of earned wage access, announced it has secured an additional US$100 million commitment to its secured credit facility capacity from Citi. The additional commitment doubles Citi's commitment from US$100 million to US$200 million. Latham previously represented DailyPay in the initial credit facility from Citi in earlier this year and in financing transactions totaling US$560 million in 2023. This extension brings DailyPay’s revolver capacity close to US$1 billion.

Latham & Watkins LLP represented DailyPay in the transaction with a finance team led by partners Loren Finegold, Haim Zaltzman, and Elizabeth Oh, with associate Maeve Chandler. Advice was also provided on tax matters by partner Elena Romanova.