PayJoy Marks 10 Years and 15 Million Customers: Focused on Expanding Responsible Financing in Emerging Markets

SAN FRANCISCO, June 3, 2025 /PRNewswire/ -- PayJoy, a Public Benefit Corporation focused on bringing responsible financing to underserved customers in emerging markets, is marking its 10th year of operations. Since 2015, the company has served over 15 million customers and is on track to reach $650 million in revenue and $110 million in profit by the end of 2025.

PayJoy began with one simple idea: helping first-time borrowers finance smartphones they need for work, school, and family connection—often when no other lender would. Using its proprietary phone-security technology and alternative credit models, PayJoy created a new form of secured lending tailored to the realities of low-income, thin-file customers.

PayJoy's growth has been built through high-growth expansion of its smartphone financing product, and more recently, a revolving credit line and the PayJoy Card, which allow customers to build credit over time and meet day-to-day financial needs. These newer products now drive a growing share of the company's profitability, especially in Mexico and Colombia.

Looking forward, the company is piloting a digital wallet and plans to expand into remittances, bill pay, and insurance—always with the intent to meet customers where they are. Doug Ricket, PayJoy CEO and founder said, "Our customers have huge potential that we can help unlock. If we continue listening to them and building what they actually need to succeed financially, I believe we can make a real difference at scale."

About PayJoy
PayJoy is a Public Benefit Corporation providing responsible financing to underserved populations in emerging markets. Using proprietary phone-security technology and AI-driven underwriting, PayJoy helps borrowers build credit and access digital tools for work, education, and connection. Learn more at www.payjoy.com.

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