Full-Time
Confirmed live in the last 24 hours
Automates accounts receivable processes for businesses
CA$85k - CA$95kAnnually
Mid, Senior
Remote in Canada
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VersaPay automates accounts receivable processes for businesses, focusing on the B2B market. Its main product, the ARC platform, simplifies invoicing and payment by providing an online self-service portal where customers can receive invoices, make payments, and communicate with businesses. This portal is customizable, allowing clients to tailor the experience to their needs, which enhances customer satisfaction and retention. Unlike many competitors, VersaPay operates on a subscription-based model, providing a steady revenue stream while also charging transaction fees for processed payments. The company's goal is to improve the efficiency of AR processes and capitalize on the growing demand for digital financial solutions.
Company Size
201-500
Company Stage
IPO
Total Funding
$18.7M
Headquarters
Toronto, Canada
Founded
2006
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Remote Work Options
Flexible Work Hours
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
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.
Market Leaders - Bill.com, BillingPlatform, Billtrust, BlackLine, Esker, HighRadius, Sage Intacct, Stripe, and Versapay were given the highest "Market Leader" award.
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
Versapay announces Christy Johnson as Chief Product Officer and Barrett Smith as Chief Payments and Customer Operations Officer.