CloudPay secures USD 120 mln in funding

With 30 years of experience, CloudPay has built a worldwide customer base, collaborating with over 280 corporate clients, taking care of their payroll and payment needs in more than 130 countries. The funding will allow strengthening of the customer product and technology solutions such as deploying AI within data management, automating and scaling of processes, and improving connectivity via a comprehensive set of API solutions connecting the partners of its global payroll, payment, and HCM ecosystem.

Executives frim CloudPay said global payroll is a growing market providing big opportunities for CloudPay and this funding gives them the flexibility to accelerate their journey. Their focus on payroll and payment offerings resonates well with their global clientele. With the support of Blue Owl Capital, they are strengthening their capital base while continuing to invest in their solutions for global organisations and their employees worldwide.

This funding round marks another milestone within the history of the company. CloudPay has now expanded its workforce to over 1,350 employees globally to deliver accurate, on-time pay to employees across more than 130 countries.

What does CloudPay do?

CloudPay is an organisation modernising the payroll experience an raising the importance of payroll beyond an operational function to become a business advantage. With a heritage of over 25 years, they are trusted to manage the payroll processes of 250 global organisations, processing over 3 million payslips a year in over 130 countries, handling over USD 24 billion of payments in 168 currencies. 

The company’s integrated portfolio of payroll, payments, and pay on-demand solutions are delivered through a single cloud-based platform that can be deployed anywhere in the world. By unifying payroll, payments and HCM functions, and leveraging modern technology, they can transform pay processes, making them fast and friction-free.