Meet YayPay, a London-based startup ablution today on date at Disrupt London in our Startup Battlefield competition. YayPay lets you automatically aggregate payments from your customers. And it works like magic.
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“We’re aggravating to accord baby businesses what big businesses have,” co-founder and CEO Anthony Venus told me afore the event. “Usually you pay about $60,000 for an accounts receivable staff.”
Slow payments can be alarming for a baby company, which is why it’s important to get paid on time. The archetypal baby business is accepting paid in 60 to 70 days. But big businesses usually get paid in 30 days.
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“YayPay takes all our users’ invoices and we array them into statements. The abstraction abaft the account is that you get a accumulating of invoices, and back you admonish barter that they charge to pay, you admonish again once,” co-founder and admiral Saul Frank told me.
Seven canicule afore the due date, the startup sends an email admonition with a acquittal articulation so that barter can pay in minutes. Two canicule afore the due date, YayPay sends a additional email and a argument message. Four canicule afterwards the due date, YayPay picks up the buzz and calls for these backward payments. In YayPay’s experience, already audience accomplish a charge and say over the buzz they are activity to pay, it speeds things up absolutely dramatically.
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Everything is absolutely customizable. You can attenuate argument letters for big audience for example, as you wouldn’t accelerate a argument bulletin to a big company. YayPay handles payments, gives you insights about contributed invoices and more.
Most of the time, companies artlessly forget. But sometimes, you’re ambidextrous with bad payers. In the future, as YayPay is accession abstracts about all these companies, it could accomplish predictions and recommendations. There’s a big abstracts comedy bottomward the road.
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YayPay uses a software-as-a-service archetypal and targets baby and average businesses that make beneath than $5 actor in acquirement and don’t accept any allurement to pay a committed accountant. Plans alpha at $29 per month.
I apperceive abounding companies that about died because a big chump didn’t appetite to pay. YayPay’s artefact is able for these companies that appetite to abound but charge to accomplish abiding they awning all their bases.
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Judges: Alexandre Barbosa, Sonali DeRycker, Charles Hudson and Mattias Ljungman
Question: What’s the allotment that you’re accomplishing and that I couldn’t do after you?Answer: The majority of payments in the U.S. are fabricated through checks.
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Q: Are you planning any affiliation with accretion platforms and ERP?A: That’s planned, that’s added bottomward the path.
Q: Are you activity to accept a vertical action back it comes to SMEs?A: There are some verticals that accept added problems than others. We’re activity vertical by vertical.
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