UK’s CloudPay bags €109M from Blue Owl Capital, others: Know more

London-based CloudPay, an independent provider of global payroll and payment solutions, announced on Friday that it has secured $120M (approximately €109M) in a fresh funding round led by Blue Owl Capital with the participation of existing shareholders Rho Capital Partners, The Olayan Group and Hollyport Capital.

The funding will allow CloudPay to strengthen its customer product and technology solutions such as deploying AI within data management, automating and scaling processes, and improving connectivity via a comprehensive set of API solutions connecting the partners of its global payroll, payment, and HCM ecosystem.

“Global payroll is a growing market providing tremendous opportunities for CloudPay and this funding gives us the flexibility to accelerate our journey,” says 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,” adds Folz

CloudPay: Providing modern employee pay experience 

Led by Dr. Roland Folz, CloudPay aims to modernise the payment experience for businesses and people.  

The company does this through its integrated portfolio of payroll, funding, payments, and pay-on-demand solutions in a single cloud-based platform that can be deployed anywhere in the world.

The UK company has now expanded its workforce to over 1,350 employees globally to deliver accurate, on-time pay to employees across more than 130 countries.

According to the company, they process more than 1M payslips each year for more than 2,000 companies across 130 countries.

We’ve handled over $24B in payment transactions across 168 currencies.

The investor

Blue Owl is an asset management firm offering alternative investment solutions.

As of June 30, 2024, the VC had over $192B in assets under management. The VC invests across three multi-strategy platforms: credit, GP Strategic Capital, and Real Estate.

Kurt Tenenbaum, Managing Director and co-head Menlo Park Office from Blue Owl Capital adds, “We have been impressed with CloudPay’s growth, experienced international leadership team, and customer commitment. We are excited about what the future holds for CloudPay and are proud to support their long-term growth strategy.”