Paynest - About the company
Paynest is a seed company based in London (United Kingdom), founded in 2021. It operates as a Provider of expense management, accounts payable, and accounts receivable automation. Paynest has raised $3.88M in funding from Lince Capital and BlueCrow. The company has 275 active competitors, including 35 funded and 23 that have exited. Its top competitors include companies like Intuit, Deltek and Stream.
Company Details
Provider of expense management, accounts payable, and accounts receivable automation. The platform offers tools for managing employee expenses, supplier payments, and invoice processing. It provides features such as compliance validation, spend visibility, and payment automation. The system integrates with accounting software and offers reporting capabilities.
- Website
- www.paynest.co/
- Registered Address
- BUILDING 423 - SKY VIEW (RO) ARGOSY ROAD CASTLE DONINGTON,EAST MIDLANDS AIRPORT,DERBY,ENGLAND,DE74 2SA
Key Metrics
Founded Year
2021
Location
London, United Kingdom
Stage
Seed
Total Funding
$3.88M in 2 rounds
Latest Funding Round
Investors
Ranked
54th among 275 active competitors
Employee Count
23 as on Jul 31, 2026
Legal entities associated with Paynest
Paynest is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
PAYNEST LTD CIN: 14150004 , United Kingdom, Active | Jun 05, 2022 | - | 2 (As on Jun 30, 2024) |
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Paynest's funding and investors
Paynest has raised a total funding of $3.88M over 2 rounds. Its first funding round was on Dec 13, 2023. Its latest funding round was a Seed round on Sep 09, 2024 for $*****. 2 investors participated in its latest round. Paynest has 5 institutional investors.
Here is the list of recent funding rounds of Paynest:
Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Sep 09, 2024 | 2209402 | Seed | 8260376 | 3075010 | 8306859 | 9511729 |
Dec 13, 2023 | 4075825 | Seed | 5611035 | 4524726 |
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Paynest's founders and board of directors
Founder? Claim ProfilePaynest's employee count trend
Paynest has 23 employees as of Jul 26. Here is Paynest's employee count trend over the years:
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Paynest's Competitors and alternates
Top competitors of Paynest include Intuit, Deltek and Stream. Here is the list of Top 10 competitors of Paynest, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Intuit 1983, Mountain View (United States), Public | Provider of financial, accounting, tax preparation, and marketing automation software | - | 83/100 | |
2nd | Deltek 1983, Herndon (United States), Acquired | Cloud based enterprise resource planning software provider for multi industries | $107M | 77/100 | |
3rd | Stream 2018, London (United Kingdom), Acquired | Workplace financial wellbeing platform that provides employees with tools to access earned wages | $228M | 76/100 | |
4th | FreeAgent 2007, Edinburgh (United Kingdom), Acquired | Cloud-based accounting software for small businesses, freelancers, and accountants | $21.9M | 76/100 | |
5th | Xero 2006, Wellington (New Zealand), Public | Provider of accounting software and related tools for business management | - | 75/100 | |
6th |  Clair 2019, New York City (United States), Series B | Cloud-based employee benefits platform for on-demand pay | $67.7M | 70/100 | |
7th |  Sage 1981, Newcastle Upon Tyne (United Kingdom), Public | Provider of cloud-based enterprise software solutions for accounting, finance, and people management | - | 70/100 | |
8th |  Anna 2017, London (United Kingdom), Acquired | Cloud-based accounting management solutions for businesses | $88.3M | 68/100 | |
9th | Unit4 1980, Sliedrecht (Netherlands), Acquired | Platform offering cloud based enterprise resource planning software for businesses | - | 62/100 | |
10th | Hastee 2017, London (United Kingdom), Acquired | Online employee benefits platform for financial benefits | $22.9M | 61/100 | |
54th |  Paynest 2021, London (United Kingdom), Seed | Provider of expense management, accounts payable, and accounts receivable automation | $3.88M | 30/100 |
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Paynest's Investments and acquisitions
Paynest has made no investments or acquisitions yet.
Reports related to Paynest
Here is the latest report on Paynest's sector:
News related to Paynest
•
Paynest receives €1M from BlueCrow and Lince CapitalEl Referente•Sep 30, 2024•Paynest, BlueCrow, Lince Capital
•
Paynest raises €2M to boost its expansion across EuropeEl Referente•Dec 13, 2023•Paynest, Lince Capital, BlueCrow, Correios de Portugal and 1 other
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