Daily Pay

Daily Pay Co., Ltd. is a South Korean fintech startup that provides an advance settlement service for small and medium-sized businesses to improve their cash flow. Founded in October 2023 by CEO Haewoo Lee, the company offers a funding solution based on sales receivables, allowing both online and offline businesses to receive payment for their sales ahead of the standard settlement date. This service is designed to prevent cash flow shortages that can occur due to settlement periods that can extend up to 60 days for e-commerce sellers.

The company's business model is centered on its proprietary Alternative Credit Scoring System (ACSS), which utilizes real-time big data analysis and sales evaluation technology to assess a seller's receivables. This model analyzes factors such as return rates, sales trends, and seasonal volatility to calculate the advance settlement amount. The service is presented as a selection service rather than a loan, meaning it does not impact the credit scores of the business owners. Daily Pay serves a growing client base of approximately 23,000 users.

Since its inception, Daily Pay has demonstrated significant growth, securing seed funding from Primer in July 2024, followed by a pre-Series A round five months later with participation from Ryukyung Asset Management and a follow-on investment from Primer. The company was also selected for the TIPS (Tech Incubator Program for Startups) and the Korea Credit Guarantee Fund's “Little Penguin” program, securing additional R&D funding and support.

Keywords: advance settlement, sales receivables financing, small business funding, SME cash flow, fintech Korea, revenue-based financing, e-commerce seller financing, data-driven credit analysis, early payment solutions, business financial services, Haewoo Lee, Primer, Ryukyung Asset Management, TIPS startup, KODIT, alternative credit scoring, merchant cash advance, receivables factoring, Korean fintech, online seller support