[Global] CloudPay secures $120m funding to strengthen global customer base

On August 8, global payroll and payment solutions provider CloudPay announced that it had closed a $120 million funding round led by Blue Owl Capital with the participation of existing shareholders Rho Capital Partners, The Olayan Group and Hollyport Capital. 

The funding further strengthens CloudPay’s capital base and provides flexibility for future growth opportunities. 

It will reportedly allow CloudPay to strengthen its customer product and technology solutions such as deploying AI within data management, automating and scaling processes, and improving connectivity via a comprehensive set of API solutions connecting the partners of its global payroll, payment and HCM ecosystem.  

"Global payroll is a growing market providing tremendous opportunities for CloudPay and this funding gives us the flexibility to accelerate our journey” Dr Roland Folz - CEO of CloudPay - said. "Our focus on payroll and payment offerings resonates very well with our esteemed global clientele. With the support of Blue Owl Capital, we are strengthening our capital base while continuing to invest in our state-of-the-art solutions for global organisations and their employees worldwide.” 

Kurt Tenenbaum - Managing Director, Co-Head Menlo Park Office from Blue Owl Capital - said, "We have been impressed with CloudPay's growth, experienced international leadership team, and customer commitment. We are excited about what the future holds for CloudPay and are proud to support their long-term growth strategy."  

This funding round marks a significant new milestone for the company which has now expanded its workforce to over 1,350 employees globally to deliver accurate, timely pay to employees across more than 130 countries.

Source: CloudPay

On August 8, global payroll and payment solutions provider CloudPay announced that it had closed a $120 million funding round led by Blue Owl Capital with the participation of existing shareholders Rho Capital Partners, The Olayan Group and Hollyport Capital. 

The funding further strengthens CloudPay’s capital base and provides flexibility for future growth opportunities. 

It will reportedly allow CloudPay to strengthen its customer product and technology solutions such as deploying AI within data management, automating and scaling processes, and improving connectivity via a comprehensive set of API solutions connecting the partners of its global payroll, payment and HCM ecosystem.  

"Global payroll is a growing market providing tremendous opportunities for CloudPay and this funding gives us the flexibility to accelerate our journey” Dr Roland Folz - CEO of CloudPay - said. "Our focus on payroll and payment offerings resonates very well with our esteemed global clientele. With the support of Blue Owl Capital, we are strengthening our capital base while continuing to invest in our state-of-the-art solutions for global organisations and their employees worldwide.” 

Kurt Tenenbaum - Managing Director, Co-Head Menlo Park Office from Blue Owl Capital - said, "We have been impressed with CloudPay's growth, experienced international leadership team, and customer commitment. We are excited about what the future holds for CloudPay and are proud to support their long-term growth strategy."  

This funding round marks a significant new milestone for the company which has now expanded its workforce to over 1,350 employees globally to deliver accurate, timely pay to employees across more than 130 countries.

Source: CloudPay