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Check

Can a single API company become the universal payroll infrastructure layer powering every workforce-adjacent SaaS platform in the US?

Founded2019
HQNew York, NY, United States
Total raised$120M
Latest roundSeries unknown
IndustryInfrastructure / Payroll
The story

Founded in 2019, Check set out to become the payroll infrastructure layer for SaaS platforms—essentially the 'Stripe for payroll.' Rather than building a direct-to-employer product, Check operates entirely B2B2B: platforms (HR, workforce management, vertical SaaS) white-label Check's API to offer embedded payroll to their own customers. Check obtained money transmitter licenses in all 50 states and DC to handle money movement, and expanded its product surface area from core payroll calculation and tax filing into benefits (401k, health, workers comp) and fraud/risk tooling. By 2024, it powered payroll for 35,000+ businesses across 65+ platform partners.

Last 12 months
2024-04
Product timeline
2019
Check Technologies, Inc. founded in New York as a payroll-as-a-service API company.· pivot
2021
Launched embedded payroll API and platform allowing SaaS platforms to embed payroll into their products.· banking
2023
Announced strategic partnership with Plaid to streamline bank account linking for employee direct deposit in payroll.· banking
2023
Launched Benefits & More suite including Health Benefits, 401k, and Workers Comp as add-ons to payroll.· banking
2024
Expanded to 65+ platform partners including public companies, PE-backed firms, and growth-stage startups; surpassed $15B processed annually and 1M+ employees paid.· pivot
Regulated entities
MTL
US (50 states + DC)
Check Payments LLC (NMLS #2103307)
Money Services Business
US (FinCEN)
Check Payments LLC (NMLS #2103307)
In the press
embeddedfinancereview.com ↗
Coverage sourced from Embedded Finance Review — a content partner for this report. All articles are © their original authors; click any card to open the source.
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The stack
Ledger
Modern Treasury
Payroll
Check (self-operated)
Open banking
Plaid
Accounting
QuickBooks Online
Accounting gap: minor