When was Payitoff founded?

Payitoff was founded in 2017 and raised its 1st funding round 4 years after it was founded.

Where is Payitoff located?

Payitoff is headquartered in New York City, United States.

How many employees does Payitoff have?

As of Mar 01, 2026, the latest employee count at Payitoff is 10 - 49.

Is Payitoff a funded company?

Payitoff is a funded company, having raised a total of $***** in its 1st and only funding round, a Seed round on Nov 10, 2021.

When was the latest funding round of Payitoff?

Payitoff's latest funding was a $***** Seed round on Nov 10, 2021, with participation from 4 investors. Its primary sector is Higher Education Tech. In United States, the Higher Education Tech sector has seen $151M in funding in 2026 to date.

Where does Payitoff rank among its competitors?

Payitoff ranks 37th amongst 279 active competitors, of which 43 are funded. It stands 8th in terms of total funding among its competitors. The most recent competitor to raise funding was Auxilo, which secured $25.5M in Nov, 2025.

Who are the top competitors of Payitoff?

Payitoff's top competitors include Bright Money, Prodigy Finance and Auxilo. Among them, Auxilo secured the most recent funding round in November, 2025.

Payitoff - 2026 Company Profile, Team, Funding & Competitors

Company Details

API-enabled student loan repayment solutions for lenders. Its features include loan assessment, loan enrollment, customer engagement solutions, money-saving guidance, and more. It enables students to save on the existing loan by repaying the loan with a lesser interest rate.

Website: payitoff.io
Social

Key Metrics

Founded Year

2017

Location

New York City, United States

Stage

Acquired

Total Funding

$11M in 1 round

Latest Funding Round

Seed, Nov 10, 2021, $*****

Investors

Lightspeed Venture Partners & 4 more

Ranked

37^th among 279 active competitors

Employee Count

10 - 49 as on Mar 01, 2026

Similar Companies

Bright Money & 192 more

Exit Details

Acquired by Array (Oct 28, 2024)

View Payitoff's full profile

Payitoff is associated with 2 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Reports
INSTRUMENTAL LABS, INC. CIN: 181568297 , United States, Active	Apr 28, 2021	-	-	-
INSTRUMENTAL LABS, INC. CIN: 5382261 , United States, Active	Jul 25, 2018	-	-	-

Payitoff got acquired by Array on Oct 28, 2024.

Click here to take a look at Payitoff's acquisition in detail

Payitoff has raised a total funding of $11M over 1 round. Its latest funding round was a Seed round on Nov 10, 2021 for $*****. 4 investors participated in its latest round. Payitoff has 5 institutional investors.

Here is the list of recent funding rounds of Payitoff:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Nov 10, 2021	3493721	Seed	2181290	8126988	4090548	1391751

Access funding benchmarks and valuations. Sign up today!

View details of Payitoff's funding rounds and investors

The founders of Payitoff is Bobby Matson.

Here are the details of Payitoff's key team members:

Bobby Matson: Founder of Payitoff and founder of 1 other company. They are also an angel investor in 1 startup.
Contact Info: 1 email address

View details of Payitoff's Founder profiles and Board Members

Payitoff's employee count trend

Payitoff has 10 - 49 employees as of Mar 26. Here is Payitoff's employee count trend over the years:

Uncover Payitoff's growth story! Sign up today!

Access Tracxn on any website

Our Google Chrome extension lets you view company details while browsing their websites

Install Tracxn Extension

Top competitors of Payitoff include Bright Money, Prodigy Finance and Auxilo. Here is the list of Top 10 competitors of Payitoff, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Bright Money 2019, San Francisco (United States), Series B	Provider of financial technology solutions for debt reduction and credit building	$43M	Alpha Wave Global, Hummingbird Ventures & 14 others	72/100
2nd	Prodigy Finance 2007, London (United Kingdom), Series C	Provider of credit products for students pursuing advanced academic degrees	$161M	Index Ventures, Balderton Capital & 56 others	71/100
3rd	Auxilo 2017, Mumbai (India), Series C	Provider of financial products focused on education loans and related services	$127M	ICICI Bank, Balrampur Chini Mills & 20 others	71/100
4th	Navient 2014, Wilmington (United States), Public	Provider of loans for students	-	Goldman Sachs, Hilltop Private Capital & 3 others	65/100
5th	EarnUp 2014, San Francisco (United States), Acquired	Online debt repayment platform for consumers	$59.2M	Financial Solutions Lab, LendingTree & 15 others	63/100
6th	ErudiFi 2019, Singapore (Singapore), Series A	Operator of platforms providing financial access for students pursuing education	$5M	Monk's Hill Ventures, ThirdStream Partners ... & 13 others	60/100
7th	GyanDhan 2015, Delhi (India), Series A	Provider of education loan marketplace and study abroad admission support	$7.78M	Gray Matters Capital, Starfish Advisors & 29 others	60/100
8th	Propelld 2017, Bengaluru (India), Series D	Provider of private student loans and education financing solutions	$70.2M	WestBridge Capital, Stellaris Venture Partners ... & 57 others	59/100
9th	College Ave 2014, Wilmington (United States), Acquired	Student loans marketplace	$50M	Comcast Ventures, Fenway Summer Ventures & 5 others	58/100
10th	LendKey Technologies 2007, New York City (United States), Series C	Student & Home improvement loans online by local community lenders	$42.2M	TTV Capital, DFJ & 8 others	57/100
37th	Payitoff 2017, New York City (United States), Acquired	API-enabled student loan repayment solutions for lenders	$11M	Lightspeed Venture Partners, Sound Ventures ... & 3 others	40/100