PowerPay Founder and CEO Mike Petrakis Recognized Among Philadelphia Business Journal’s 2025 Most Admired CEOs
WAYNE, Pa. — Dec. 10, 2025 — Mike Petrakis, Founder and CEO of PowerPay, has been recognized as one of Philadelphia Business Journal’s (PBJ) 2025 Most Admired CEOs for his leadership in building one of the region’s fastest-growing financial technology platforms.
Petrakis founded PowerPay in 2017 as a startup processing a single loan per month. Under his leadership, PowerPay has grown from a beta-stage startup to a financial technology platform now processing nearly $400 million in applications per month and originating approximately $4–5 billion annually across its home improvement and elective healthcare finance segments. Today, the company serves more than 15,000 contractors and physician networks nationwide, supported by a global team ensuring 24/7 platform operations.
“We built PowerPay to solve a real problem in consumer financing. Too many products bury customers in transaction fees or punish them with high default rates when they miss a payment,” said Petrakis. “Growing from a handful of loans to a national platform meant building infrastructure that could scale without losing that focus on transparency. This accolade reflects the work of a team that refused to compromise on those principles.”
Petrakis assembled a network of more than 15,000 qualified providers without charging membership fees, creating a B2B2C model that connects lenders, contractors, elective health care providers, and their consumer clients. His background as a former contractor who built one of the largest generator installation companies in the country enabled PowerPay’s product development, focusing on eliminating the fees and high default interest rates that typically burden consumer financing.
Beyond his work at PowerPay, Petrakis has dedicated more than 16 years as a national official for USA Swimming, a volunteer position in which he officiates competitions nationwide. He serves on the board of the historic Fannie Chapman pool in Doylestown, which will celebrate its 100th anniversary this year. Together with his wife, who serves as president of the swim team, Petrakis helped grow the YMCA swim program from two swimmers to nearly 350 participants. PowerPay also supports childhood cancer research through its partnership with Alex’s Lemonade Stand Foundation (ALSF) and serves as a major sponsor of the Wanamaker Light Show, helping preserve the Philadelphia holiday tradition.
The recognition comes as PowerPay continues significant momentum. In October, the company announced a $565 million asset-backed securitization, one of the top five largest home improvement deals ever to enter the market and a substantial expansion from its $118.9 million inaugural securitization just 18 months earlier.
The PBJ’s Most Admired CEO Awards recognize regional leaders who demonstrate innovation, outstanding financial performance, commitment to quality and diversity, strong vision, and contributions to Greater Philadelphia.
About PowerPay
PowerPay is a leading financial technology company headquartered in Wayne, Pennsylvania, specializing in point-of-sale financing for home improvement and patient care. The company’s AI-powered platform connects more than 15,000 contractors and physician networks with flexible financing solutions, enabling consumers to access affordable loans through a seamless digital experience. PowerPay has processed nearly $13 billion in consumer loans, supported by data-driven underwriting and a technology-first approach to risk management. For additional information, visit getpowerpay.com.
Media Contact
Britni Ackrivo
Gregory FCA for PowerPay
backrivo@gregoryfca.com
(856) 906-9615
backrivo@gregoryfca.com
(856) 906-9615