Global pay provider CloudPay today announced details of its recent funding. The company raised a new $58 million round of capital led by The Olayan Group, along with existing investors Pinnacle Investment Partners and Rho Capital Partners, and others.
CloudPay CEO Paul Bartlett commented, “This funding will be instrumental as we build our Fintech solutions, including peer-to-peer payment capabilities. The participation of our existing investors is further endorsement of our vision, and I’m especially excited to welcome The Olayan Group – an organization that shares our global perspective – as our newest investor.”
Providing employee access in one mobile application, CloudPay NOW is the truly global solution that reduces operational complexities for employers and empowers employees to manage their finances proactively.
The funds will support CloudPay’s continued growth as the leading global provider of employee pay solutions that unify global payroll systems and align with a consumer-grade experience for employees.