Payfare

Payfare

Instant pay solutions for gig workers, enhancing financial freedom and peace of mind. Learn more

Launch date
Employees
Market cap
CAD406m
Enterprise valuation
CAD89m (Public information from Sep 2024)
Toronto Ontario (HQ)

Financials

Estimates*

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Revenues, earnings & profits over time
CAD2019202020212022202320242025
Revenues6.3m13.4m43.8m130m186m239m291m
% growth76 %113 %225 %197 %43 %28 %22 %
EBITDA(14.7m)(22.7m)(19.4m)(1.4m)18.0m31.7m40.7m
% EBITDA margin(234 %)(169 %)(44 %)(1 %)10 %13 %14 %
Profit(23.9m)(26.3m)(21.4m)(2.9m)13.1m22.5m28.5m
% profit margin(379 %)(196 %)(49 %)(2 %)7 %9 %10 %
EV / revenue--8.8x1.5x1.6x1.8x1.4x
EV / EBITDA---20.0x-138.4x16.5x13.2x10.3x
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DateInvestorsAmountRound

N/A

Early VC

CAD65.4m

Post IPO Debt
N/A

N/A

IPO
Total Funding-

Recent News about Payfare

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More about Payfareinfo icon
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Payfare is a financial technology company that provides instant pay solutions for gig workers, enabling them to access their earnings immediately. Operating in the gig economy, Payfare partners with some of the world's largest gig platforms to offer financial services that improve the daily lives of workers. The company serves gig workers who need quick access to their earnings, offering features such as online shopping, cash back rewards, mobile wallet payments, fraud protection, and insured funds. Payfare's business model revolves around providing these financial services to gig platforms, which in turn offer them to their workers. The company generates revenue through service fees and transaction fees associated with its financial products. By offering instant pay and other financial services, Payfare helps gig workers achieve financial stability and peace of mind.

Keywords: instant pay, gig workers, financial technology, gig economy, cash back rewards, mobile wallet, fraud protection, insured funds, service fees, transaction fees.

Tech stack

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Tech stackLearn more about the technologies and tools that this company uses.