Overview of Transaction

• On January 7, 2025, OnPay announced that it raised $63 million in financing led by Carrick Capital Partners
• Headquartered in Atlanta, OnPay is a leader among payroll, HR, and benefits software providers and partners with hundreds of companies to offer a superior customer experience
• OnPay, powered by its advanced technology platform, is on a mission to simplify the payroll, HR, and benefits process for small business owners nationwide
• The Company provides a full-service payroll platform that automates and simplifies the payroll process along with fully integrated HR and benefits services to offer high quality support to business owners and employees
• Today, the Company offers its services to 25k+ SMBs and 150k+ employees, and plans to roll out several additional products and services in the next few months

Significance of Transaction

• The funding will enable OnPay to scale its capabilities, further invest in product development, expand partnerships and integrations, augment customer success teams, and accelerate its go-to-market strategy
• OnPay’s ability to deliver more value to SMB clients will continue to drive higher client satisfaction, revenue retention, and unit economics

FT Partners' Role

• FT Partners served as the exclusive financial and strategic advisor to OnPay on this transaction
• This transaction highlights FT Partners’ deep domain expertise in the payroll space, as well as its successful track record of generating highly favorable outcomes for FinTech companies globally