Relay provides an accounts payable automation platform and an early-payment programme that lets suppliers price the time value of money into invoices and offer cashback to buyers who pay early. Suppliers indicate when they want to be paid and choose how much to spend on prompt payment; buyers earn instant cashback the earlier they pay. The platform reduces manual invoice processing and errors by automating approvals so funds can be released the same day as approval. Since launching late in 2020, Relay says it has helped hundreds of small businesses and is processing millions in early payments every month. The company cites over NZ$15B of invoices held up awaiting payment in New Zealand each month as a market opportunity. Relay plans to use new funding to expand into Australia.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Dec 2021