VersaPay automates accounts receivable processes for businesses, helping them manage invoicing and payments more efficiently. Its main product, the ARC platform, provides an online self-service portal where customers can view invoices, make payments, and communicate with the business. This platform is customizable, allowing clients to tailor the experience to their needs, which enhances customer satisfaction and retention. Unlike many competitors, VersaPay focuses on creating a user-friendly experience that prioritizes customer interaction. The company operates on a subscription-based model, generating steady revenue through recurring fees and transaction charges. VersaPay aims to improve the financial operations of businesses by providing digital solutions that streamline their accounts receivable processes.

Enterprise Software

Fintech

Versapay

01 Corporate and commercial payment delays can tie up working capital, inhibit growth and exacerbate inefficiencies. Virtual cards offer a modern solution that minimizes cash flow volatility. 02 Traditional payment methods are increasingly susceptible to fraud, potentially leading to financial loss and reputational damage. By contrast, virtual cards offer built-in, digital safeguards against fraud. 03 Optimizing cash flow and minimizing operational friction are critical to maintaining long-term B2B relationships. Virtual cards check all the boxes for companies looking to streamline operations while increasing customer and supplier satisfaction

Cutting The Checks: Boosting Commercial Payment Speed And Security With Virtual Cards

At the early stages: Shopify and Bench alums raised $11 million CAD in seed funding for Teal; Flinks and Versapay alums raised a $10.5-million Series A for Zūm Rails; Chexy, which aims to disrupt the rent payment space, raised $4.1 million CAD in seed financing.

Is Canadian FinTech making a comeback?

Market Leaders - Bill.com, BillingPlatform, Billtrust, BlackLine, Esker, HighRadius, Sage Intacct, Stripe, and Versapay were given the highest "Market Leader" award.

The Top Accounts Receivable Automation Software According to the FeaturedCustomers Summer 2024 Customer Success Report

By Nancy DahlbergVersapay has been quietly growing quite explosively since it acquired the homegrown DadeSystems in 2022 to broaden its accounts receivable automation solutions, expand its AI and machine learning capabilities, and grow its mid-market footprint. Last October, the financial technology company, formerly headquartered in Toronto, relocated its corporate base to Miami-Dade’s Dadeland area.Today, Versapay says 5 million businesses transact on the Versapay payments network, amounting to a 5X growth in the network since hitting the 1 million milestone just 18 months ago.At a time of high costs for capital and surging fraud, the growth milestone shows that mid-market companies in particular are looking to Versapay for their secure, reliable transactions, said CEO Carey O’Conor Kolaja. The middle market makes up about a third of private sector GDP and employment.“We believe the future of mid-market business growth hinges on technology partners that have proven confidence and fidelity in moving money. Five million businesses on our network speaks volumes to trust, security, and especially efficiency in transacting with Versapay,” Kolaja, an industry veteran with 25+ years of financial services executive leadership experience, said in a statement.Versapay is a remote-first company with about 400 employees, including about 20 in South Florida. Vice President of Engineering Doug Hathaway said that after the 2022 acquisition of DadeSystems, he and the team stayed on. Hathaway was the founding CTO of DadeSystems, and was even involved in writing the first lines of code in 2011 for a product that is still one of Versapay’s key products today.Doug Hathaway, Versapay’s VP of Engineering

Two Years After Dadesystems Acquisition, Versapay Sees Explosive Growth, Plants Its Hq In Miami-Dade

Versapay announces Christy Johnson as Chief Product Officer and Barrett Smith as Chief Payments and Customer Operations Officer.

Versapay Announces Christy Johnson as Chief Product Officer and Barrett Smith as Chief Payments and Customer Operations Officer

01 Inefficient manual payments are putting businesses in a tight spot and placing strains on B2B relationships. The need for AP/AR automation grows ever more pressing. 02 Automation, virtual cards and digital payments are becoming cornerstones of B2B payments, with businesses increasingly recognizing their role in strengthening buyer-supplier relationships. 03 The “consumerization” of the B2B payments experience is inevitable as businesses in the digital age recognize the need to build loyalty with their “other” customers: B2B partners.Timely and reliable payments are fundamental to strong business-to-business (B2B) partnerships and are especially critical for small to mid-sized businesses (SMBs) on the receiving end. However, the continued use of paper payments and manual accounts payable (AP) and accounts receivable (AR) processes often leads to payment delays and poor communication, threatening the trust and two-way efficiency vital to these connections. Adopting automated AP/AR solutions and real-time payments offers an opportunity to turn the frequent friction of B2B payments into lasting buyer-supplier relationships and steady income streams

Building Better B2B Relationships Through Payments Innovation

Versapay, the leading Accounts Receivable Efficiency Suite, today announced that 5 million businesses now transact on the Versapay payments network, amounting to a 5X growth in the network since hitting the one million milestone 18 months ago. Companies on the Versapay network process more than 110 million transactions and over $170 billion in payments volume annually. Versapay’s Accounts Receivable Efficiency Suite simplifies the invoice-to-cash process by automating invoicing, facilitating B2B payments, and streamlining cash application with AI.“In a market where cost of capital is high and fraud is surging, companies are looking to established networks that demonstrate secure, reliable transactions,” said Carey O’Connor Kolaja, Versapay’s CEO. “We believe the future of midmarket business growth hinges on technology partners that have proven confidence and fidelity in moving money. Five million businesses on our network speaks volumes to trust, security, and especially efficiency in transacting with Versapay.”The middle market makes up roughly one-third of private sector GDP and employment, according to Harvard Business Review, yet midmarket businesses tend to be underserved when it comes to digitization of back-office functions like Accounts Receivable. Through Versapay’s Accounts Receivable Efficiency Suite, over 5 million midmarket buyers and sellers come together to streamline how accounts receivable and accounts payable teams work together to deliver faster, more efficient settlement across payment channels.“Midmarket businesses that have traditionally relied on low-tech or even no-tech solutions to manage accounts receivable workflows—especially in verticals such as manufacturing, wholesale and distribution, and commercial real estate—face buyers who expect modern options in payments,” said Barrett Smith, Chief Payments and Customer Operations Officer at Versapay

Five Million Businesses Now Transacting On Versapay'S B2B Payments Network

The leading Accounts Receivable Efficiency Suite, Versapay appoints Ed Neumann as its new Chief Financial Officer (CFO). Neumann will be responsible for Versapay’s financial strategies and will lead the charge on building and scaling a high-growth business model for the company.“Throughout his career, Ed has been at the helm of high-performing teams,” said Carey O’Connor Kolaja, CEO of Versapay. “Ed is a financial veteran who brings a proven track record of driving operational and financial excellence for multiple high-growth companies throughout his career. His deep knowledge and understanding of fintech, e-commerce, and SaaS sectors make him an invaluable asset toward Versapay’s ambitious growth strategy.”With more than 30 years of experience, Neumann is a seasoned growth CFO within the technology sector, having assumed the role four times throughout his career. He played a pivotal role as Shopkeep’s CFO, guiding the company through its acquisition by Lightspeed Commerce in November 2020 and continuing to contribute to the company’s success as the Executive Vice President of Operations until October 2022. At Borderfree, Neumann’s financial leadership was integral to the company’s Initial Public Offering in 2014 and eventual acquisition by Pitney-Bowes in 2015

Versapay Appoints Ed Neumann As Chief Financial Officer - Fintech Finance

Versapay appoints Ed Neumann as Chief Financial Officer.

Versapay Appoints Ed Neumann as Chief Financial Officer

Versapay appoints Gaby Kozakov as Chief Technology Officer.

Versapay Appoints Gaby Kozakov as Chief Technology Officer

Automates accounts receivable processes for businesses

Versapay

Automates accounts receivable processes for businesses

Versapay

Automates accounts receivable processes for businesses

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