OnPay, a payroll service provider for small businesses and accountants, has completed a $6 million Series A funding round. This exceeds the original goal of $5 million for its first round of venture financing. The company, headquartered in Atlanta, provides payroll, HR, and benefits services to more than 10,000 clients across the United States.
“Our rapid growth over the past year signals a significant demand for high-quality payroll services,” said Jesse Burgess, founder and CEO of OnPay. “With this funding, we will continue to scale and exceed the expectations of our clients, while focusing on innovative product-led development.”
In addition to product development, OnPay will use the investment to grow its team, expand its marketing efforts, and further enhance its award-winning customer experience.
“Former and active leaders of large and growing businesses invested in this round,” said Mark McKee, president and COO of OnPay. “Support from well-known fintech investors who understand our industry demonstrates OnPay’s successful track record as well as our substantial opportunity to help businesses tackle some of their most pressing challenges.”
As part of the round, Tony Catalfano, former CEO of Worldpay US, has joined OnPay’s board of directors. Catalfano has significant experience as a board member and advisor and has held a variety of senior leadership roles in the fintech industry.
The Series A funding builds on an outstanding year for OnPay that includes becoming a Xero certified app partner, releasing a complete set of HR tools, and being named as the exclusively endorsed payroll partner for American Dental Association members.