BizPay (Formerly HirePay)
BizPay is a technology platform that solves cash flow issues associated with paying business invoices. Our innovative financial products make BizPay the easiest way to grow your business. Our frictionless, transparent & affordable solutions enable businesses: - To split bills into 4 easy monthly instalments. - Get 100% invoice funding in 24 hours to grow their businesses without being constrained by cashflow. In the current business environment, the cash flow burden of paying professional service providers or business bills is causing many businesses to try “going it aloneâ€. The BizPay founding team and its esteemed advisory board are made up of experienced individuals who are passionate about enabling companies to grow by using state of the art technology that simplifies the entire business payment process.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
* | N/A | Seed | |
| Total Funding | 000k | ||
Related Content
BizPay is a financial technology startup that aims to improve cash flow for businesses by offering a "Buy Now, Pay Later" solution for business transactions. The company operates in the B2B (business-to-business) market, serving both suppliers and purchasers.
For suppliers, BizPay provides a service that allows them to get paid upfront for their invoices. Instead of waiting for the payment terms to be fulfilled, suppliers can receive payment within 24 hours, minus a small fee of 4%. For example, if a supplier has an invoice of $10,000, they will receive $9,600 immediately. This helps suppliers manage their cash flow better and reduces the risk of late payments.
For purchasers, BizPay offers the flexibility to spread the cost of their invoices over four monthly installments. This means that instead of paying the full amount upfront, purchasers can pay a quarter of the invoice value at the end of each month, interest-free. This helps businesses preserve their cash flow and manage their expenses more effectively.
BizPay's business model revolves around charging a 4% fee on the total invoice amount for the service of immediate payment. This fee is the company's primary source of revenue. The service is designed to be straightforward with no hidden costs, making it an attractive option for businesses looking to improve their cash flow management.
In summary, BizPay is a fintech company that helps businesses manage their cash flow by offering immediate invoice payments for suppliers and installment payment options for purchasers. The company operates in the B2B market and makes money by charging a 4% fee on the invoice amount.
Keywords: fintech, cash flow, B2B, invoice financing, immediate payment, installment payments, suppliers, purchasers, 4% fee, business transactions.