CloudPay Secures $120 Million Funding Round

CloudPay, a leading provider of global payroll and payment solutions, has successfully raised $120 million in a funding round led by Blue Owl Capital, along with contributions from existing investors. This financial boost will enhance CloudPay's capital base, allowing for further expansion and the development of advanced technology solutions, including AI for data management and improved API connectivity. With over 280 corporate clients, CloudPay operates in more than 130 countries and processes over 3 million payslips annually, managing payments exceeding $24 billion in 168 currencies. CEO Roland Folz highlighted the growth potential in the global payroll market and the company's commitment to modernizing payroll services. The funding will support CloudPay's strategy to continue investing in state-of-the-art solutions for its global clientele. This round marks a significant milestone in CloudPay's 30-year history of success.