DailyPay to expand in Northern Ireland with £24m investment

By Gloria Methri

New York-based FinTech company, DailyPay, has chosen Northern Ireland for its first expansion outside the United States in a major investment that could create 293 new jobs.

The company, which specialises in on-demand pay technology, empowers employees with choice and control over their earned pay. The £24 million investment was secured for Northern Ireland after Invest NI’s US team worked closely with the company to help it set up here. DailyPay’s office in Belfast officially opened its doors in 2023.

Ed Zaval, Chief Customer Officer at DailyPay, credited the culture, education, and people in Northern Ireland as the top reasons for choosing Belfast for the new operation.

“DailyPay has built an award-winning, trusted, first-of-its-kind technology platform that is revolutionizing the way employees are paid while dynamically changing the way money moves,” he said. “We are thrilled to be expanding our talented team to augment the US engineering and customer support functions and open up opportunities for expanding our international reach.”

“Northern Ireland offers a highly attractive investment location as it has a well-educated workforce, a cost-competitive business environment, and excellent support from Invest NI. We have already got our Belfast office up and running and recruited 100 staff and intend to have all the jobs in place by mid-2025,” he added.

Welcoming the investment, Mel Chittock, Interim CEO of Invest NI, said, “The success of the NI Investment Summit showed that Northern Ireland has a clear ability to deliver superior experience for investors. DailyPay has joined a well-established cluster of software development companies who have come to Northern Ireland because of our talent pool, ease of access to the European market, and business-friendly environment.”

“With an average compensation of £42,500, the new jobs will deliver over £12 million to the local economy in additional salaries. The jobs will enhance the capability of our workforce, and particularly our important financial services sector, by exposing it to new technologies which will contribute to strengthening our economy and deliver the Department for the Economy’s 10x vision.”