Paid offers a next-generation procure-to-pay software platform that enables fast supplier onboarding, project scoping, approvals and invoicing in a single product. The platform claims suppliers can be onboarded in ten minutes, enterprises can go live in days, and customers can offer suppliers an instant payment option. Paid says its tooling can reduce procurement costs by up to 75% and better support small and long-tail suppliers. At launch the company is live with one of the UK’s top telco customers that manages tens of thousands of suppliers. Paid was founded in late 2018, participated in the Barclays London Accelerator powered by Techstars in January 2019, and is currently a six-person team based in Darlington with some staff in London. With the new funding the company plans to double headcount by the end of the year, hiring product, engineering and customer success roles.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Nov 2020