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Total amount raised
$593M
Latest funding date
2025-12-02
Location
PayJoy has successfully raised funds through 12 funding rounds, with the latest being a debt financing round. The company is backed by 46 investors, including notable names like Neuberger Berman and Citi.
Keep reading to explore the intricacies of PayJoy's fundraising journey and the investors backing this innovative platform.
PayJoy has raised funds across multiple rounds, backed by investors including Warburg Pincus, Neuberger Berman, Citi, Greylock, Union Square Ventures, and Lendable.
Keep reading to explore PayJoy's fundraising journey and key investors.
What Is PayJoy?
PayJoy is a San Francisco-based financial technology company founded in 2015 that provides smartphone-enabled consumer financing solutions for underserved and underbanked populations in emerging markets. PayJoy uses a proprietary lock technology to secure installment-payment loans on smartphones, enabling people across Latin America, Africa, and Southeast Asia to access credit and enter the modern financial system. As of 2025, PayJoy has financed over $3 billion in loans to more than 16 million customers.
How Much Funding Has PayJoy Raised?
PayJoy has raised funds across at least 9 disclosed rounds. Below is a summary of the known funding history:
- Seed Round
- Amount Raised: USD 2,300,000
- Date: August 2015
- Lead Investors: Metamorphic Ventures, Red Swan Ventures
- Participants: Prominent angels
- Venture Round
- Amount Raised: USD 1,000,000 (venture debt)
- Date: December 2015
- Lead Investors: Undisclosed
- Series A
- Amount Raised: USD 18,000,000 (USD 8.5M equity + USD 9.5M debt)
- Date: July 2016
- Lead Investors: Union Square Ventures
- Participants: Orange Digital Ventures, Draper Nexus Ventures, Dave Eisenberg / Red Swan Ventures
- Convertible Note
- Amount Raised: USD 6,000,000
- Date: September 2017
- Lead Investors: Santander InnoVentures, ITOCHU Corporation
- Participants: Additional strategic partners from Brazil, Nigeria, Mexico, China, Vietnam, and Europe
- Debt Financing
- Amount Raised: USD 20,000,000
- Date: November 2018
- Lead Investors: Arc Labs
- Series B
- Amount Raised: USD 20,000,000
- Date: May 2019
- Lead Investors: Greylock Partners
- Participants: Union Square Ventures, EchoVC, Core Innovation Capital
- Debt Financing
- Amount Raised: USD 26,000,000
- Date: December 2020
- Lead Investors: Lendable
- Series C + Debt Financing (combined announcement)
- Amount Raised: USD 360,000,000 (USD 150M Series C equity + USD 210M debt)
- Date: September 2023
- Lead Investors: Warburg Pincus (Series C equity); Citi (debt portion)
- Participants: Invus, Citi Ventures, Union Square Ventures, Greylock
- Debt Financing
- Amount Raised: USD 140,000,000
- Date: December 2, 2025
- Lead Investors: Neuberger Berman Funds (Specialty Finance business)
Total Amount Raised: At least $593M based on disclosed funding rounds.
Key Investors
- Neuberger Berman
- Details: Neuberger Berman is a private, independent, employee-owned investment management firm. Their Specialty Finance business led the most recent USD 140 million corporate debt facility for PayJoy in December 2025, supporting the company's global expansion across Latin America, Africa, and Asia.
- Warburg Pincus
- Details: Warburg Pincus is a leading global private equity firm focused on growth investing. They led PayJoy's USD 150 million Series C equity round in September 2023, marking a major milestone in PayJoy's growth trajectory.
- Citi
- Details: Citi is a global financial services company. Citi led the USD 210 million debt component of PayJoy's 2023 capital raise and participated as an equity investor in the Series C round through Citi Ventures.
- Greylock Partners
- Details: Greylock is a leading venture capital firm. They led PayJoy's USD 20 million Series B in May 2019 and also participated in the Series C round in 2023.
- Union Square Ventures
- Details: Union Square Ventures (USV) is a New York-based venture capital firm. They led PayJoy's USD 18 million Series A in July 2016 and have been a consistent participant in subsequent rounds including the 2023 Series C.
- Lendable
- Details: Lendable is a financial technology company providing credit solutions to underserved markets in emerging economies. They led the USD 26 million debt financing round for PayJoy in December 2020, supporting PayJoy's smartphone financing operations in Mexico.
What's Next for PayJoy?
PayJoy is well-positioned to continue its growth trajectory in emerging markets. With a proven model, strong investor backing, and over $3 billion in loans issued to more than 16 million customers, the company is focused on expanding its footprint across Latin America, Africa, and Southeast Asia. PayJoy's latest debt facility from Neuberger Berman will help accelerate product expansion into credit cards and point-of-sale financing, deepening its impact on financial inclusion globally.
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