Paybygroup

Pay By Group, established in 2011, offers a specialized financial software solution that enables group payments for shared expenses. The company was co-founded by CEO Camilo Acosta and CRO Frank Langston, who were Princeton University roommates. Their journey began by addressing a personal challenge they faced, which evolved into a fintech venture.

The firm operates with a white-label, embedded checkout model, integrating its technology directly into the websites and portals of its business clients. This allows end-consumers to collaboratively split the cost of a purchase. Pay By Group primarily serves clients in the travel and e-commerce sectors, including vacation rental companies and online travel agencies. The business generates revenue by providing this payment infrastructure, which helps its clients increase average order value and conversion rates.

Pay By Group's core product is a payment platform that simplifies the process of collecting funds from multiple individuals for a single transaction. It is designed to be a seamless addition to a merchant's existing checkout process. The platform has demonstrated a high success rate in converting initiated group payments into completed orders and can process transactions in over 70 countries. The company started by focusing on the vacation rental market before expanding to other e-commerce verticals. A significant milestone was its acquisition by Fevo on January 25, 2022. Throughout its history, Pay By Group secured $3.4 million in funding over several seed rounds, with notable investments from SparkLabs Global Ventures, 500 Startups, and Great Oaks Capital. The company also participated in accelerators run by 500 Startups and a joint program by MasterCard and Silicon Valley Bank called CommerceInnovated.

Keywords: group payments, split payments, collaborative commerce, white-label checkout, e-commerce conversion, travel tech, vacation rental payments, fintech, payment gateway, shared expenses, online travel agency payments, Fevo, Camilo Acosta, Frank Langston, SparkLabs Global Ventures, 500 Startups, social commerce, payment processing, financial software, embedded finance, checkout optimization, order value increase, customer conversion tool