YayPay raises USD 8.4 mln for its accounts receivable service

Information Venture Partners led the funding round with existing investors Birchmere, QED, Fifth Third Capital, Gaingels and 500 Fintech Fund also participating.

YayPay targets large companies with an accounting department and provides a 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.

Moreover, 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.