DailyPay is a software company which allows employees to manage their pay. It will increase $175 million Series [su_highlight]A and $325M in debt capital investment.[/su_highlight] At the time at the time of writing the price of the company is $1B+.
Since its beginnings, Jessica Mah, an entrepreneur, has had great results with her business. It has collaborated with a variety of businesses, which include Walmart, United Parcel Service and Adecco which is a major personnel company.
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DailyPay employs between one 100 and 12000 people and they pay them around $500 million per year. The intention of the company to trade better pay arrangements with large employers is the main reason for its existence.
Jessica Mah, CEO at DailyPay said that DailyPay transformed into an entirely new technology that is empowering professionals and giving them the ability to control their financial future. We’re connecting between one hundred and twenty thousand employees with their employers, and establishing an online platform that allows employers and employees to make more informed choices regarding how much they spend.
The agency received $71M in funding in its maiden 2017 round of investment. This time, it’s reached the $200M mark. It raised a substantial amount of funds in the month of December to finance its growth.
Read Next: DailyPay Raises $500 Million Of Capital, Powering Its Mission To Transform The Financial System
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There are some important things to be looking in order to recognize an Ponzi scheme. First, look to see whether the investment offers guarantees or offers unusually high returns. If the returns appear like they could be too great to be real it is likely that they aren’t.
Another alarm is when a company isn’t registered with the SEC. All legitimate investment companies are required to be registered with SEC.
Beware of businesses that ask that you invest huge amounts of money up front. Ponzi schemes usually require investors to deposit large sums of money prior to being able to start making any money.
If you spot some of these warning signs you should stay clear from investing in the company. It’s likely to be an illegal Ponzi scheme.
Strategies to prevent being
There are a few steps one can take to ensure you’re not being fooled. The first is that you only work with legitimate companies. If you’re unsure about a particular company, do some investigation to determine if that it’s legitimate.
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If you take these steps, you’ll be able to stay clear of being fooled. If you do encounter a situation in which you believe you be a victim of fraud, you should contact your local Better Business Bureau or your local consumer protection office to seek assistance.
Also Read: Singapore-Based Silent Eight, Whose AI-Powered Tech Lets Financial Institutions Enforce Economic Sanctions And Prevent Financial Crimes, Raises A $40M Series B