Company Overview
Snapshot
Founded in September 2014 by Offer Markovich and Daniel Peled, PayKey operates with 11–50 employees. The company has raised $16.4M across 3 funding rounds from 14 investors.
Business overview
PayKey is a financial technology company that develops payment solutions for financial institutions and their customers. The company's core offering includes products like Salary on Demand, which enables employees to access earned wages before their scheduled payday via a mobile app. PayKey serves the fintech and insurtech sectors, aiming to provide greater financial control for consumers and enhance employee satisfaction for employers by integrating with existing payroll systems. Its solutions are deployed across various global markets including Colombia, Argentina, Mexico, Philippines, and Ecuador.
Strategic signal
In February 2021, PayKey launched a "world-first embedded banking solution" and trading functionality, as reported by UK Tech News and City A.M. This move signals PayKey's strategic expansion beyond its initial social banking keyboard offerings into more comprehensive embedded finance and investment services, positioning the company to compete in the evolving digital banking landscape and attract a broader user base through integrated financial tools.
Log in to access full profile ›Company Intelligence Q&A
- What is PayKey's primary offering?
- PayKey provides mobile finance solutions, including its Salary on Demand product, which allows employees to access earned wages before their scheduled payday through a mobile application.
- When was PayKey founded and by whom?
- PayKey was founded in September 2014 by Offer Markovich and Daniel Peled.
- Which investors participated in PayKey's October 2017 funding round?
- In October 2017, PayKey received funding from investors including Commerce Ventures.
- What strategic development did PayKey announce in February 2021?
- In February 2021, PayKey launched a new embedded banking solution and introduced trading functionality, aiming to expand its offerings and compete in the app market.
- What was a notable partnership for PayKey in February 2020?
- In February 2020, Bank Austria went live with the PayKey Social Banking Solution, integrating PayKey's technology into its services.