Payjoy Announces $360M In Funding To Support Growth

Sep 05, 2023•over 2 years ago

Amount Raised

$360 Million

San FranciscoInformation Technology

Investors

CitiGreylockUnion Square VenturesCiti VenturesInvusWarburg Pincus

Description

PayJoy is excited to announce a successful $360M capital raise, consisting of $150M in Series C equity and $210M in debt. The equity was led by Warburg Pincus, with participation from Invus, Citi Ventures and prior leads Union Square Ventures and Greylock. The debt funding was led by Citi and includes other institutional investors as well as PayJoy's own in-house fund.

Company Information

Company

PayJoy

Location

655 4TH STREET

San Francisco, California, United States

About

PayJoy is a mission-first credit provider dedicated to helping under-served customers in emerging markets to achieve financial stability and success. Our patented technology for secured credit provides an on-ramp for new customers to enter the credit system. Through PayJoy’s point-of-sale financing and credit cards, customers gain access to a modern quality of life. PayJoy’s credit also allows our customers to seize opportunities as micro-entrepreneurs, and provide safety acts as insurance for tough times. Through our cutting-edge machine learning, data science, and anti-fraud AI, we have served over 17 million customers as of 2025 while achieving solid profitability for sustainable growth.

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Funding Insights

Based on industry data

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VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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