{"id":488448,"date":"2021-01-22T10:24:31","date_gmt":"2021-01-22T10:24:31","guid":{"rendered":"https:\/\/ibsintelligence.com\/?p=488448"},"modified":"2021-09-21T12:05:01","modified_gmt":"2021-09-21T12:05:01","slug":"volopay-raises-usd-2-1m-seed-funding-company-expands-into-australia","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/volopay-raises-usd-2-1m-seed-funding-company-expands-into-australia\/","title":{"rendered":"Volopay raises USD 2.1M seed funding; company expands into Australia"},"content":{"rendered":"<p><a href=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/01\/Volopay.png\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-488450 alignright\" src=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/01\/Volopay.png\" alt=\"Volopay, funding\" width=\"175\" height=\"175\" srcset=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/01\/Volopay.png 200w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/01\/Volopay-150x150.png 150w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/01\/Volopay-100x100.png 100w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/01\/Volopay-60x60.png 60w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2021\/01\/Volopay-90x90.png 90w\" sizes=\"auto, (max-width: 175px) 100vw, 175px\" \/><\/a><a href=\"https:\/\/www.volopay.co\/au\">Singapore-based Volopay<\/a> raised USD 2.1 million in a seed round funding to provide businesses and startups in the Asia Pacific (APAC) region with a powerful control center for all their financial needs. The investment round was led by Tinder founder Justin Mateen. Other investors joining the round were Soma Capital, CP Ventures, Y Combinator, VentureSouq, the founders of Razorpay, and other prominent angel investors.<\/p>\n<p>Volopay was founded in 2019 by CEO Rajith Shaji and CTO Rajesh Raikwar. The founders met while working at a financial services comparison platform based in Singapore. Whilst there, Rajith and Rajesh experienced the challenges that existed in tracking\u00a0different company spendings such as subscriptions, vendor payments, and employee reimbursements.<\/p>\n<p>&#8220;The whole process is broken. I would spend hours noting down each individual spend and then have to reconcile it with receipts. Once submitted through the company&#8217;s expense platform, I would wait a whole month before being reimbursed the funds,&#8221; said Volopay CEO Rajith Shaji.<\/p>\n<p><strong>Integrating Airwallex&#8217;s APIs to better serve customers<\/strong><\/p>\n<p>&#8220;To fast track our customer offering, we&#8217;ve chosen to integrate with fintech giant Airwallex&#8217;s API suite. We were impressed by how easy Airwallex&#8217;s API technology integrated with Volopay, providing us with robust payment and issuing capabilities,&#8221; said Volopay CEO Rajith Shaji.<\/p>\n<p>&#8220;We are excited to be Volopay&#8217;s chosen API partner at such a significant stage of the company&#8217;s growth. Airwallex&#8217;s purpose is to empower businesses like Volopay to grow without borders and as a result, contribute to the growth of the global economy,&#8221; said Dave Stein, Head Of Corporate Development at Airwallex.<\/p>\n<p><strong>Customer growth at 70 per cent M-o-M<\/strong><\/p>\n<p>Since the launch of the product in June 2019, more than 100 companies have started using the product in Singapore including companies like InVideo, Dathena, Medline, Sensorflow, Beam, etc.<\/p>\n<p>Volopay is a company on a mission to build a financial control center for modern businesses. Volopay combines business accounts, corporate cards, bill payments, expense reimbursements, credit, cashback, and accounting automation into a single platform. Since launching in Singapore the startup has been on a strong growth trajectory, growing at 70 per cent month on month. They are now stepping into the Australian market, starting in late January.<\/p>\n","protected":false},"author":13,"featured_media":488450,"parent":0,"template":"","categories":[11387],"tags":[11673,14765],"class_list":["post-488448","ibsi_news","type-ibsi_news","status-publish","has-post-thumbnail","hentry","category-investment-management","tag-australia","tag-volopay"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.9 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Volopay raises USD 2.1M seed funding; company expands into Australia<\/title>\n<meta name=\"description\" content=\"Singapore-based Volopay raised USD 2.1 million in a seed round funding to provide businesses and startups in the Asia Pacific (APAC) region.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ibsintelligence.com\/ibsi-news\/volopay-raises-usd-2-1m-seed-funding-company-expands-into-australia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Volopay raises USD 2.1M seed funding; company expands into Australia\" \/>\n<meta property=\"og:description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. 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