INSUBCONTINENT EXCLUSIVE:
Fintech startup YayPay just raised another $8.4 million for its software-as-a-service solution focused on collecting money from outstanding
The company participated in TechCrunch’s Startup Battlefield several years ago.Information Venture Partners led today’s funding round
with existing investors Birchmere, QED, Fifth Third Capital, Gaingels and 500 Fintech Fund also participating.YayPay targets large companies
with an accounting department
The startup provides the perfect service to handle unpaid invoices
YayPay analyzes previous invoices and predicts when you’re supposed to get paid depending on the client and the nature of the invoice
This way, you know which account needs your attention right now.Teams can collaborate to send reminders and make sure everyone is on the
You also can view information about your client directly in YayPay thanks to CRM and ERP integrations.YayPay also eliminates a bunch of
pesky tasks, such as gentle email reminders
You can create automated workflows so that your clients get an email a few days before a payment deadline
If they don’t open the email, you can receive a notification telling you to call them
Customers also can pay invoices directly using YayPay
The platform supports ACH and credit cards.While this seems like a niche product, the company has managed to attract 480 clients that have
generated more than $7 billion in accounts receivables
This represents a 500 percent user base increase over the last 12 months.
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