About ClearPay
ClearPay is a company based in Toronto (Canada) founded in 2013 was acquired by InsurePay in June 2022.. ClearPay offers products and services including ClearPay Platform and InsurePay Service. ClearPay operates in a competitive market with competitors including Functional Finance, InsurePay, SCIO Health Analytics, Ascend and VPay, among others.
- Headquarter Toronto, Canada
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Sectors
Financial Services
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Email
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Phone
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Website
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Products & Services of ClearPay
ClearPay offers a comprehensive portfolio of products and services, including ClearPay Platform and InsurePay Service. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Automates insurance billing and reconciliation processes securely
Facilitates end-to-end payments for insurance carriers and brokers
Funding Insights of ClearPay
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in ClearPay
ClearPay has secured backing from 1 investor. Prominent investors backing the company include InsurePay. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Cloud-based payroll integration is provided for insurance premium collection.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Venture capital is directed toward companies in multiple sectors.
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Investments & Acquisitions by ClearPay
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - ClearPay
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Clearpay Comparisons
Competitors of ClearPay
ClearPay operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Functional Finance, InsurePay, SCIO Health Analytics, Ascend and VPay, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Online payment platform for insurance companies
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| domain | founded_year | HQ Location |
Cloud-based payroll integration is provided for insurance premium collection.
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| domain | founded_year | HQ Location |
Provides payment integrity solutions for healthcare organizations
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| domain | founded_year | HQ Location |
Online insurance payments and premium financing are enabled for businesses.
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| domain | founded_year | HQ Location |
Payment solutions provider for insurers
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| domain | founded_year | HQ Location |
Payment software for flow of funds in the insurance industry
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about ClearPay
When was ClearPay founded?
ClearPay was founded in 2013.
Where is ClearPay located?
ClearPay is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
Who is the current CEO of ClearPay?
John Knotek is the current CEO of ClearPay.
What does ClearPay do?
ClearPay was established in 2013 in Toronto, Canada, as a provider of payment and settlement tools within the insurance sector. A cloud-based platform is utilized by insurance businesses for handling payments and reconciling transaction data related to payables and carriers. Brokers are supported in sending payments and managing reconciliations. Tools such as saving calculators are included to determine monthly statement payments and client advances.
Who are the top competitors of ClearPay?
ClearPay's top competitors include Functional Finance, Ascend and Diesta.
What products or services does ClearPay offer?
ClearPay offers ClearPay Platform and InsurePay Service.
Who are ClearPay's investors?
ClearPay has 1 investor. Key investors include InsurePay.
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