Expert in global pay solutions, CloudPay, has raised a new $50 million round of capital whilst recording strong growth as demand for cloud-based integrated global payroll and payments services continues.

The funds raised were led by Runway Growth Capital and The Olayan Group. The new capital will support CloudPay's continued innovation of its end-to-end enterprise global pay offering, meeting the need for integrated payroll and payments services as well as employee solutions that fit the modern world of work.

Employee pay processes have broad business consequences, requiring modern solutions and trusted experts across the globe. CloudPay connects all employee pay processes - including payroll, payments, and on-demand pay - through a unified platform available across 130+ countries, and 168 currencies. CloudPay's experts help global companies implement best practices, navigate change, optimize operations, and improve employee experiences, guiding them with vision and care toward the comprehensive pay experience employees deserve.