Singapore based start-up, Volopay has raised USD 2.1 million on 18th of January 2021 in the seed funding round led by Justin Marteen (Founder of Tinder) to furnish startups and businesses in the Asian pacific region with a compelling control center for all their needs.
Investors: The funding took place in the seed round and was led by Justin Marteen. Other investors who participated were CP Ventures, Y Combinator, the founders of Razor pay, Venture Souq and Soma Capital and other prominent investors.
What the funding is for: The capital would be utilized for product development, hiring, strategic partnerships and international expansion. The platform assists with money transfers, expense tracking, subscription management, business accounts and corporate cards. They are currently operating in Singapore and also plan to launch their enterprise in Australia later this month. The company presently has about 100 customers including Beam, Sensor flow, Medline and Smart Karma.
Founded Date: August 20, 2019
Founders of the company: Rajith Shaji, Rajesh Raikwar
Legal name of the company: VOLOPAY.CO PTE.LTD
Primary objective of the company: The organization is a Fintech software which aims at making expense reports digital, safe, inclusive and fast.
About the company: Volopay is a privately held association which comes under the computer software industries. It was founded in 2019 and has a work strength of approximately 11-50 employees. Volopay is the first real time expense management application, basically a management solution to streamline expense workflows while providing control over business spends and real time visibility. They deal with various specialties like receipt scanning, fraud prevention, cash management, payroll cards and digital marketing expenses. The software provided by Volopay just breaks down the whole process and enables clients to reduce their effort and time by replacing spreadsheets, reports and paper checks.
What the CEO has to say: “I realized employee expenses and shared bank cards was a huge problem for businesses of all sizes, especially start-ups. The lack of visibility meant they were losing money due to unaccounted expenses. Volopay sets out to re-evaluate business banking for start-ups and tech companies by providing sufficient cash backing and saving”. Said Rajith Shaji, CEO of Volopay.
“To fast track our customer offering, we have chosen to integrate with Fintech giant Airwallex’s API suite. We were impressed by how easy Airwallex’s API technology integrated with the Volopay platform providing us with robust payment and issuing capabilities”. Said Rajesh Raikwar, Co-founder of Volopay.
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