OnPay, a US-based invoice payments specialist, is set to expand its suite of payroll, HR and benefits solutions after securing more than $100 million in fresh funding.OnPay raises $63m Series B and debt facilityThe funding includes $63 million in Series B equity financing, and a debt facility with MC Credit Partners, the value of which has not been disclosed.Carrick Capital Partners led the funding round, and was supported by AB Private Credit Investors and other unnamed existing investors.Headquartered in Atlanta, OnPay’s suite encompasses ‘no touch’ virtual cards, ACH transfers, and cheque and wire payment solutions, serving over 25,000 SMEs across the US. Founded in 2009, the paytech was acquired by business spend management platform Medius in 2022.In a statement regarding the raise, OnPay says the funding will enable it to “scale its capabilities, further invest in product development, expand partnerships and integrations, augment customer success teams, and accelerate its go-to-market strategy”.
Gio. Gen 9th, 2025
