PayJoy has secured a $140 million corporate debt facility from funds managed by Neuberger Berman, marking a significant step in the company’s ongoing global expansion efforts. The financing deepens a partnership that began in 2022 with Neuberger’s Specialty Finance business and is designed to strengthen PayJoy’s capital structure while supporting key growth initiatives.
The new facility will enable PayJoy to scale its geographic footprint and expand its lending products, including point-of-sale financing and credit cards, across major emerging markets in Latin America, Africa, and Asia. The company intends to leverage the additional capital to enhance its technology infrastructure, broaden distribution, and reach millions of new customers who traditionally lack access to formal credit systems.
PayJoy, known for its secured-credit technology and AI-driven underwriting, has financed more than $3.5 billion in loans for over 17 million customers and operates with a global workforce of more than 1,000 employees. The latest financing round is expected to support continued innovation in machine learning, data science, and anti-fraud capabilities as the company scales.
KEY QUOTES
“This financing from funds managed by Neuberger reflects deep confidence in PayJoy’s business model and growth trajectory. As we expand credit access across emerging markets, this partnership provides the flexibility to responsibly serve millions more customers.”
Doug Ricket, CEO and Co-Founder of PayJoy
“We’re pleased to extend our partnership with the Neuberger Specialty Finance team. This facility strengthens our balance sheet and provides the structural flexibility to support our rapid growth and continued innovation.”
Sumeet Wadhera, Head of Capital at PayJoy
“We’re pleased to expand our relationship with PayJoy, a leader in inclusive credit. Their technology-driven approach and strong track record align closely with our commitment to supporting high-quality, mission-oriented financial institutions.”
Zhengyuan Lu, Managing Director at Neuberger
