CloudPay, a leading provider of global payroll and payment solutions, has successfully closed a $120 million funding round. The investment, led by Blue Owl Capital and supported by existing shareholders Rho Capital Partners, The Olayan Group, and Hollyport Capital, strengthens CloudPay’s capital base and sets the stage for future growth.
1. Strategic Investment
- Funding Amount: $120 million
- Lead Investor: Blue Owl Capital
- Other Investors: Rho Capital Partners, The Olayan Group, Hollyport Capital
2. Growth and Innovation
- AI Deployment: Enhancing data management through artificial intelligence.
- Process Automation: Scaling and automating payroll and payment processes.
- API Solutions: Improving connectivity with a comprehensive set of APIs for the global payroll, payment, and HCM ecosystem.
3. Company Impact
- Customer Base: Over 280 corporate clients in more than 130 countries.
- Workforce Expansion: Grown to over 1,350 employees globally.
- Annual Growth: Achieving a growth rate significantly above the market average.
Executive Statements
- Dr. Roland Folz, CEO of CloudPay, commented on the significance of the funding: “This funding gives us the flexibility to accelerate our journey. Our focus on payroll and payment solutions resonates well with our global clientele. With the support of Blue Owl Capital, we are enhancing our capital base while investing in advanced solutions for organizations and their employees worldwide.”
- Kurt Tenenbaum, Managing Director at Blue Owl Capital, praised CloudPay’s achievements: “We are impressed with CloudPay’s growth, experienced leadership, and dedication to customer service. We are excited about their future and proud to support their long-term growth strategy.”
- Everest Group: Recognized as a Major Contender (Global) and Star Performer (EMEA) in the Multi-Country Payroll Solutions PEAK Matrix Assessment 2023.
- Quadrant Knowledge Solutions: Ranked Top 3 Leader in the 2023 SPARK Matrix.
- GLOBEE Disruptor Awards: GOLD in Emerging FinTech and Payment Solution Disruptors, SILVER in FinTech, Financial Services, Payments, and Banking Disruptors (2024).
CloudPay’s latest funding round marks a significant milestone in its journey, providing the resources needed to further enhance its global payroll and payment solutions. With a focus on AI, automation, and connectivity, CloudPay is well-positioned to continue its impressive growth and deliver superior value to its global clientele.
