- OnPay, a payroll service provider for small businesses and accountants, announced it raised $6 million in Series A funding
OnPay — a payroll service provider for small businesses and accountants — announced it has raised $6 million in Series A funding. This funding round exceeds the original goal of $5 million for its first funding round.
And in addition to product development, OnPay will use the funding to grow its team, expand its marketing efforts, and further enhance its award-winning customer experience.
“Our rapid growth over the past year signals a significant demand for high-quality payroll services,” said Jesse Burgess, founder and CEO of OnPay. “With this funding, we will continue to scale and exceed the expectations of our clients, while focusing on innovative product-led development.”
Based in Atlanta, OnPay provides payroll, HR, and benefits services to over 10,000 clients across the United States.
“Former and active leaders of large and growing businesses invested in this round,” added Mark McKee, president and COO of OnPay. “Support from well-known fintech investors who understand our industry demonstrates OnPay’s successful track record as well as our substantial opportunity to help businesses tackle some of their most pressing challenges.”
In conjunction with the funding round, former Worldpay US CEO Tony Catalfano is joining OnPay’s board of directors. Catalfano has significant experience as a board member and advisor and has held a variety of senior leadership roles in the fintech industry.
The Series A funding round builds on a major year for OnPay, which includes becoming a Xero certified app partner, releasing a complete set of HR tools, and being named as the exclusively endorsed payroll partner for American Dental Association members.