Payra Secures $15M Funding from Edison Partners for Accounts Receivable Automation
Payra, a FinTech focused on accounts receivable automation for construction and industrial suppliers, has raised $15 million from Edison Partners. The funding aims to accelerate Payra's growth by enhancing product capabilities and expanding its market strategy, targeting traditional businesses seeking digitization without extensive system changes. Payra reports a 20% reduction in days sales outstanding and a 75% decrease in past-due invoices for customers. The company has achieved a revenue run rate over $10 million within 15 months of launch.
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Payra has raised $15 million in growth investment from Edison Partners to enhance its accounts receivable automation for construction and industrial suppliers. The funding will support product improvements, ERP integration partnerships, and market expansion, targeting traditional businesses that want to modernize payments without expensive system overhauls.
Payra boasts a 20% reduction in days sales outstanding and a 75% drop in past-due invoices for clients. Within 15 months of its launch, Payra achieved a revenue run rate exceeding $10 million, with significant adoption among family-owned and regional businesses in the US.
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