YayPay, an NYC based financial tech startup has secured $4.8 Million in the financing round of Series A.
The round that brought up the Entire funds of this startup to $14 Million and has been headed by the Information Venture Partners with involvement from the Present investors Birchmere, Fifth Third Capital, the lead equity investment subsidiary of Fifth Third Bancorp, Gaingels, along with the 500 Fintech Fund along with also the newest investor Runway Venture Partners.
The organization as of today has a strategies to utilize the capital to pursue growth of this item within the area of advanced degree product attributes, data science along with also the growth of the sales staff.
The startup that’s co-founded from the Anthony Venus, Eugene Vyborov. YayPay supplies the SaaS rear office and uses the algorithms of machine learning that assess the behavioral and transactional patterns to assist the accounts receivables operations quicken collections, handle customer risk, forecast cash flow and increase up the fund team growth.
In the previous 13 months, the business has increased its user base by over 500 percent to 480 consumers and has significantly increased total accounts receivable on the stage to over 7 Billion dollars.
YayPay is an alumnus of this Fintech Innovation Lab, an accelerator for its development stage businesses which have developed cutting-edge technologies to be mentored by the major executives and entrepreneurs in the New York leading financial service businesses.
The business also has offices in Kiev, Ukraine.
“YayPay is turning fund groups to earnings heroes by providing our clients the workflow tools which eventually match the robustness of these used by their own sales and advertising counterparts,” states Anthony Venus, cofounder and CEO of YayPay. “Using modern applications, powered by information machine and science learning, we’re helping fund and accounts receivable teams to reach their yearly credit and sets targets while driving prices lower. We’re developing predictive credit versions and constructing a credit-to-cash workflow specifically made for the contemporary accounts receivable group ”
“We’re excited to be working with Anthony and the staff,” stated Robert Antoniades, Co-Founder and General Partner in Information Venture Partners. “YayPay is right in line with our investment thesis concerning automation as well as the digitization of fund. Employing a FinTech method to fix an analogue yet crucial procedure for example sets is the lifeblood of any business enterprise. We feel the YayPay platform is greatest in marketplace.”