Paygevity

Early Stage

A Supply Chain, FinTech Payment Company

Analytics

Raised to Date: Raised: $40,050

Aggregate Commitments $

Platform

StartEngine

Start Date

10/20/2017

Close Date

01/16/2018

Min. Goal

$10,000

Max. Goal

$107,000

Min. Investment

$500

Security Type

Convertible Note

Funding Type

RegCF

Valuation Cap

$5,000,000

Discount Rate

18%

Rolling Commitments $

Status
Funded
Reporting Date

01/31/2018

Days Remaining
Funded
% of Min. Goal

401%

% of Max. Goal

37%

Likelihood of Max
Funded
Avg. Daily Raise

$455

# of Investors

25

Momentum
Funded
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Location

New York, New York

Industry

Financial & Insurance Products & Services

Tech Sector

Small businesses are often the Davids in the Goliath world of large corporations. In fact, when small businesses provide their services to these large corporations, they can wait between 45-120 days to be paid for those services. Yikes! When you’re a small business, every penny counts, and waiting up to four months for reimbursement can feel like four years - and be highly detrimental.

That’s where Paygevity is here to save the payment day and even out the David-Goliath situation. Paygevity is a B2B financial technology company that pays small businesses within ten days of the service being provided. The big corporations then pay Paygevity, so if there’s a long wait, the small business doesn’t become impacted - but everyone can still get paid. In return, Paygevity takes a small nominal processing fee from the overall invoice. Voila! Everyone benefits.

Paygevity has partnered with Salesforce to develop their technology platform for doing all of this. Called “PromptPay” (of which Paygevity owns 100% of the IP), this platform is protected by Salesforce security. All of the Supplier Account Payable data that companies provide to Paygevity is stored on Salesforces’s cloud infrastructure, meaning that data is safe, secure, and encrypted in the Salesforce cloud. It’s a win-win for all parties involved.

And Paygevity has already hit the ground running -- they have a beta pilot program running with a Fortune 500 consumer goods corporation; they’ve been asked to onboard sizeable account payable programs for two large corporate clients; and they raised $1 million in their Convertible Note round. Plus, there’s no shortage of clients or need for their service, as every Fortune 1000 corporations falls in Paygevity’s targeted market. Add in the fact that the few competitors that exist are mostly foreign based, and suddenly it makes sense why Paygevity might be achieving some serious longevity pretty soon.

After all, a financial solution and secure platform that helps both small companies and large corporations sounds like a grand slam. Investing in Paygevity means investing in the future of America’s supply chain community - something we all need to be running as smoothly as possible for everyone.

“Who Should Be Interested in this Offering”
Are you a small business owner? Do you work at a large corporation? If yes, Paygevity could be what you need. It helps small businesses stay current with their expenses without posting collateral, while helping large corporations extend their Days Payable Outstanding. Mix in the fact that it has the ability scale quickly, and Paygevity might just be the longevity investment you’ve been waiting for.
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Paygevity 04/30/2019 StartEngine $11,000,000 $17,000 Convertible Note Funded RegCF
Paygevity 01/16/2018 StartEngine $5,000,000 $40,050 Convertible Note Funded RegCF
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Paygevity on StartEngine
$
Platform: StartEngine
Security Type: Convertible Note
Valuation: $5,000,000
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