Tapcheck Secures Further Investment with PeakSpan's Backing
Deal News | Apr 15, 2025 | PeakSpan
PeakSpan announces a significant follow-on investment in Tapcheck, doubling down on its Series A stake in the growing earned wage access (EWA) provider. Tapcheck, which has expanded significantly since its initial partnership with PeakSpan, showcases an innovative B2B model affecting economic efficiency and reducing financial stress among employees. The market for earned wage access is rapidly growing yet remains underpenetrated, offering vast potential. Tapcheck, with its effective management and strong product strategy, efficiently operates with high gross margins and low charge-off rates and is expected to see continuous growth in the coming years.
Sectors
- Financial Technology (FinTech)
- Human Resources (HR)
Geography
- United States – The article discusses the market for Tapcheck in the US, where the EWA industry is growing rapidly with a large potential customer base.
Industry
- Financial Technology (FinTech) – Tapcheck operates in the earned wage access (EWA) space, which is a subset of FinTech, providing financial services through technology.
- Human Resources (HR) – EWA services are directly related to HR practices as they pertain to payroll and employee benefits, enhancing recruitment and retention.
Financials
- 30x revenue growth – Revenue increase achieved by Tapcheck since the original Series A investment led by PeakSpan.
- 70-80% gross margins – Tapcheck's operational efficiency in managing costs versus revenue.
- 0.3% charge-off rate – The low rate of charge-offs in Tapcheck's employer-sponsored EWA product.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Tapcheck | Target Company | Company | Tapcheck is a leading provider in the earned wage access sector, offering B2B services that enhance employee financial health and productivity. |
| PeakSpan Capital | Private Equity Investor | Company | A growth-stage investment firm focused on technology-enabled businesses, leading the Series A extension for Tapcheck. |
| Ron | Entrepreneur | Person | Co-founder and leader at Tapcheck, previously built a successful construction business. |
| Kayling | Entrepreneur | Person | Co-founder and leader at Tapcheck, working to drive the company's growth and strategy. |
| Andre Martin | Advisor | Person | Notably enhanced Tapcheck's business across marketing operations. |
| Carl Tsukahara | Advisor | Person | Credited for refining Tapcheck's people operations. |