Fintech startup OnPay raises $6M Series A to provide payroll services to small businesses and accountants
OnPay, an Atlanta, Georgia-based fintech startup and a provider of payroll services to small businesses and accountants, today announced it has raised $6 million series A funding for product development, grow its team, expand its marketing efforts, and further enhance its award-winning customer experience. The latest funding exceeded the original goal of $5 million for its first round of venture financing.
In conjunction to the funding, OnPay also announced that, Tony Catalfano, former CEO of Worldpay US, has joined its board of directors. 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.
Founded in 2011 Jesse Burgess, OnPay currently provides payroll, HR, and benefits services to more than 10,000 clients across the United States. OnPay spun off from its legacy company in 2015 to grow its online payroll platform. The startup was rated “excellent” by PC Magazine and gets the highest ratings from CPA Practice Advisor, Motley Fool, and their clients on Capterra as well as receiving awards for ease of use and outstanding customer service.
“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.”
OnPay grew out of our founder’s long-standing family payroll business. When Jesse Burgess joined that company in 2007, his first priority was simply helping the company’s six payroll clerks be more efficient — and to keep them from getting frustrated.
“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.”