CloudPay raises $50 mn led by Runway Growth Capital and Olayan Group

CloudPay, a payroll and payments services provider, has raised $50 million — led by Runway Growth Capital and The Olayan Group.
VC funding for techCloudPay is projecting revenue growth of 40 percent for 2022, with the business processing 2.5 million payslips annually worldwide. The organization has increased headcount, recently hiring its 1,000th employee.