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Tech Topics In This Article: funding news, Atlanta startups, fintechs
Atlanta’s FinTech community is kicking off 2025 with strong funding news.
OnPay, a payroll and HR platform founded in 2011, announced it had raised over $100 million in a combination of a $63 million Series B round and a debt facility. The funds will be used to further its mission of supporting small and mid-sized businesses (SMBs) across the United States, according to a press release.
Led by San Francisco-based Carrick Capital Partners and joined by AB Private Credit Investors and MC Credit Partners, the funding positions OnPay to deepen its impact in the SMB market.
“This funding represents a transformative milestone for OnPay and is a testament to the hard work and dedication of our team,” said Jesse Burgess, CEO of OnPay. “We’re excited to expand our offerings and drive impactful growth for businesses that rely on us for payroll and HR.”
Jim Madden, Co-CEO of Carrick Capital Partners, emphasized OnPay’s potential: “OnPay’s superior product and unique service approach position the company to meet the growing demands of SMBs.”
The company had raised $6 million from individual investors in early 2020 and opened its office in the popular Ponce City Market building in 2021.
OnPay’s Impact
OnPay, which is led by CEOJesse Burgess, serves over 25,000 businesses nationwide, providing accessible, modern payroll and HR software that can be tailored for teams of any size. In a crowded field of payroll and HR companies, OnPay says it stands out because of its modern, intuitive interface and customizable features that allow SMBs to get the tools they need to succeed and scale. The platform allows companies to manage direct deposits, hiring, onboarding, PTO, health insurance, retirement, and other important business functions in one place.
The investment isn’t just about software growth; it’s also about fueling Atlanta’s technology ecosystem. OnPay anticipates creating over 100 new jobs in the coming years, with many positions based in Atlanta.
“While OnPay does hire great professionals all across the US, we’ve found that Atlanta stands out as a hub of exceptional talent that’s fueling the region’s FinTech growth. We’re proud to have OnPay’s HQ based in Atlanta and will continue to hire and invest in professionals here in the years ahead,” the company told Hypepotamus.
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Featured photo from Unsplashed