- CloudPay secures $120 million in funding led by Blue Owl Capital to accelerate growth and expansion in global payroll and payment solutions.
- The company serves over 280 corporate clients in more than 130 countries, with a team of 1,350 employees across multiple international offices.
- CloudPay plans to focus on technological innovation, including upcoming AI advancements, to enhance its payroll and payment offerings for global organizations.
Independent provider of global payroll and payment solutions CloudPay has announced securing $120 million in funding.
The funding round was led by Blue Owl Capital, with support from existing investors like Rho Capital Partners, The Olayan Group, and Hollyport Capital. This new funding will help CloudPay grow and explore future expansion opportunities.
“Global payroll is a growing market providing tremendous opportunities for CloudPay and this funding gives us the flexibility to accelerate our journey” said Dr. Roland Folz, CEO of CloudPay.
“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,” Dr. Folz added.
CloudPay, with 30 years of experience, has become a key player in payroll and payments, serving over 280 corporate clients in more than 130 countries. The company has a team of 1,350 employees and offices in locations like Raleigh, Budapest, Shanghai, Costa Rica, and Barcelona.
The company has strongly emphasized technological innovation this year, according to CFO Andy Thomson. With the latest round of funding, the company aims to accelerate its progress, with plans to announce advancements in artificial intelligence (AI) later in the year.
Edited by Harshajit Sarmah
