YayPay is an account receivable automation solution that makes collecting money fast, easy, and highly predictable.
How does YayPay work?
YayPay is an NYC-based company with a mission to make collecting money fast, easy and highly predictive. With its end-to-end SaaS platform, it aims to revolutionize the back-office function of accounts receivable and help them achieve the next level of efficiency.
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 same page. You can also 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.
The company was founded in 2015 by an Australian serial entrepreneur Anthony Venus and tech entrepreneur from Ukraine – Eugene Vyborov.
YayPay went through two leading startup acceleration programs – Techstars and 500Startups and managed to gain initial customer traction in early 2017, and growing customer base ever since.
So far, YayPay attracted over 100 customers, which makes it just shy of 1000 users in the system. YayPay natively integrates with popular ERP systems such as Oracle NetSuite, Sage Intacct, Intuit QuickBooks, etc., as well as provide a public API to integrate with other ERPs.
In December 2018, YayPay closed its Series A round of financing, led by Information Venture Partners, which adds up to $16M in total funding. Company is headquartered in New York City and has got an R&D office in Kyiv, Ukraine.
In January 2019, YayPay has been recognized as a Major Player in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Receivable Applications 2019 Vendor Assessment report.