Payze Analysis: $125K Raised
What is Payze?
Payze provides online payment infrastructure for merchants and developers, including hosted payment flows, API-based checkout, recurring billing, split payments, and social commerce payment links. The site lists 650,000 plus monthly successful transactions, 50,000 plus daily API requests, 250 plus registered companies, and 99.95 percent server uptime. Payze also states that it is no longer operating in Georgia and is not onboarding new clients globally.
Location
20 Ilia Chavchavadze Avenue, Tbilisi 0102, Georgia
Employees
1-10
Founded
2020
Revenue
$3.3-5.4M
Business Model
Transaction fees from payment processing and subscription models for businesses.
Product Features & Capabilities
- API Payments, No-redirect Payment, Just Pay, Recurring Payments, Subscription Payment, Split Payments, No-Code Payments, FB / Instagram Shop, QR Payments, Online Catalog, Link Payments
Pricing
- Commission fee: 2.7% + ¢0.15 per transaction.
- International card fees in Georgia: 3.2%.
- International card fees in Uzbekistan: 3% + $0.30.
- Payment currencies in Georgia: GEL, USD, EUR.
- Payment currencies in Uzbekistan: local currency.
- Accepted card types in Georgia: VISA, Mastercard, Amex, UnionPay, Diner’s Club, JCB.
- Accepted card types in Uzbekistan: VISA, Mastercard, UnionPay, Humo, Uzcard.
How much Payze raised
Pre-Seed - $125,000
August 31, 2021Lead Investor: Y Combinator, Digital Area
Who are the founders of Payze
GT
Gega Tsurtsumia
Founder
Market Focus
Payze primarily focuses on the online payment solutions industry, providing services that help businesses manage their payment processes efficiently.
Competitors Overview
Payze operates in a competitive landscape with several notable competitors in the online payment solutions market. The main competitors include:
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Checkout.com: Offers a comprehensive payment processing platform that allows businesses to accept payments globally through a single API. This simplifies integration and management for companies looking to operate internationally.
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Payoneer: Specializes in online payment processing for digital businesses, focusing on cross-border transactions. This makes it particularly advantageous for companies that operate in multiple countries and require robust solutions for international payments.
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dLocal: Targets emerging markets, providing payment solutions that cater specifically to local payment methods. This focus allows dLocal to offer tailored services that meet the unique needs of businesses operating in these regions.
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Adyen: A global financial technology platform that provides end-to-end payment capabilities and data-driven insights. Adyen serves major companies like Meta and Uber, offering a competitive edge through its extensive partnerships and global presence.
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PayPal: A well-established player in the digital payments space, known for its vast user base and range of services that empower individuals and businesses globally.
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Razorpay: An Indian financial solutions company that has evolved from a payment gateway provider to a comprehensive financial solutions provider, focusing on enhancing the payment experience for consumers in India.
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VENDO and Segpay: Smaller competitors with revenue ranges of $10M to $50M, focusing on niche markets.
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BlueSnap: Falls within the revenue range of $50M to $100M, providing various payment solutions.
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First Data and SafeCharge: Larger players with revenues exceeding $1B, which may create a market gap that Payze can exploit by offering more personalized services.
Payze's emphasis on a customer-centric approach and its robust tech stack, including tools like Google Analytics and Apache, can be seen as advantages over its competitors, particularly for businesses seeking innovative payment processing solutions.
Investors
- Y Combinator
- Soma Capital
- BYLD Ventures
- Fox Ventures (United Arab Emirates)
- Visa
- Class 5 Global
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