About paerpay
paerpay is a Financial Services company based in Worcester (United States) founded in 2017 by Derek Canton. App-based platform for dining payments. paerpay has raised $7.19 million across 4 funding rounds from investors including MassMutual, Techstars and Elevate Capital. Its chief executive, as recorded, is Derek Canton. paerpay offers products and services including Voice AI Answering, AI Ordering, Pay at the Table, Pay at the Drive-Thru, and Text to Pay. Its focus areas include FinTech, Payments, Consumer Payments and Vertical Payments. Its legal entity is Paerpay, Inc. Its competitors include TabbedOut, SpeedETab and Mogl; 3 of its 3 listed competitors have raised funding.
Company details
Paerpay is a mobile app for dining payments. The users need to scan the Paerpay code at the table to create a new bill. Users can use the app to split, tip, and manage the bill. Supports credit card and debit card payments. Available on Android and iOS platforms.
- Total Equity Funding$7.19M (USD)
in 4 rounds
- Latest Funding Round$700K (USD), Debt – Conventional
May 2024
- InvestorsMassMutual
& 7 more
Products & Services of paerpay
paerpay offers a comprehensive portfolio of products and services, including Voice AI Answering, AI Ordering, Pay at the Table, Pay at the Drive-Thru, and Text to Pay.
Handles restaurant calls and inquiries for efficient guest responses.
Facilitates AI-based ordering to boost revenue and customer loyalty.
Enables QR code payments for quick and flexible bill settling.
Supports contactless payments to speed up drive-thru transactions.
Allows text-based payments and recovery for missed restaurant bills.
Apps and channels of paerpay
its YouTube channel paerpay inc. has 18 subscribers and 5 videos.
Videos from paerpay
The most watched videos on paerpay's YouTube channel, paerpay inc. (18 subscribers). Click a video to play it here.
More on paerpay inc..
Funding Insights of paerpay
paerpay has successfully raised a total of $7.19M across 4 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $700 thousand completed in May 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $7.19M
- Total Rounds 4
- Last Round Debt – Conventional — $700,000
- Investors Count 8
All 4 funding rounds of paerpay with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2024 | $700,000 | Debt – Conventional | – | – | – |
| Mar 2022 | $3M | Seed | – | MassMutual | |
| Dec 2021 | $4.19M | Seed | – | MassMutual | |
| May 2018 | Seed | – | MassChallenge | – |
8 investors in total: 8 institutional.
Investors in paerpay
paerpay has secured backing from 8 investors, including institutional and venture fund investors. Prominent investors backing the company include MassMutual, Techstars and Elevate Capital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital fund focused on underserved entrepreneurs is provided. | elevate.vc | Hillsboro, United States | ||
Tech focused early stage VC firm investing in the US | mass-ventures.com | Boston, United States | ||
Startups are accelerated globally without sector restrictions through structured programs. | 2006 | techstars.com | New York, United States | |
Venture capital investing with a focus on diversity and inclusion in the ecosystem. | gaingels.com | |||
Chingona Ventures is focused on investing in early-stage startups. | chingona.ventures | |||
Venture capital fund focused on tech startups | thefund.vc | New York, United States | ||
Early-stage entrepreneurs are accelerated through MassChallenge's program. | masschallenge.org | Boston, United States | ||
Mutual life insurance company | 1851 | massmutual.com | Springfield, United States |
Investor details for paerpay
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
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People of paerpay
4 people are tracked at paerpay (2 in leadership, 2 in team).
| Name | Role | Group |
|---|---|---|
Derek Canton | Founder & CEO | Leadership |
Derek E. Canton | CEO & Founder | Leadership |
Hai F. Wu | Software Engineer | Team |
Matt Rowedda | Business Development | Team |
Complete people profiles for paerpay
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Timeline of paerpay
3 dated milestones of paerpay across 7 years, from founding to its latest funding, stage changes and deals.
- Founded paerpay is founded.
- Funding First funding round.
- Funding Latest funding round, Debt – Conventional, of $700K.
Competitors of paerpay
paerpay has 3 listed competitors in our database, 3 of them funded. They include TabbedOut, SpeedETab and Mogl.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| tabbedout.com | 2009 | Austin, United States | $41.1M | 40 | Mobile payments and marketing for hospitality venues are facilitated. | |
| speedetab.com | 2013 | Fort Lauderdale, United States | $650,000 | Mobile ordering at restaurants & bars | ||
| mogl.com | 2010 | San Diego, United States | $30.1M | 27 | Card-linked cashback rewards are offered for restaurant and bar spending. |
Detailed competitors of paerpay
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Verified entity values are shown only after access is granted.
Top companies in Payments & Remittance Platforms
3 companies that operate in the same segment as paerpay (Payments & Remittance Platforms) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Payment processing and card issuance solutions are provided for businesses. | 2009 | San Francisco, California, United States | USD 9.81 B | 16,622 | ||
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 3,108 | |
Spend management and accounts payable solutions are delivered to businesses. | 2019 | New York, New York, United States | USD 5.07 B | 6,209 |
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Related news about Paerpay
Complete news archive for paerpay
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Frequently Asked Questions about paerpay
paerpay was founded in 2017 and raised its 1st funding round 1 year after it was founded.
paerpay is headquartered in Worcester, United States. It is registered at Worcester, Massachusetts, United States.
Derek Canton is the CEO of paerpay, as recorded in our data. They have also founded this company.
paerpay is a funded company, having raised a total of $7.19M across 4 funding rounds to date.
Paerpay is a mobile app for dining payments. The users need to scan the Paerpay code at the table to create a new bill. Users can use the app to split, tip, and manage the bill. Supports credit card and debit card payments. Available on Android and iOS platforms.
paerpay offers Voice AI Answering, AI Ordering, Pay at the Table, Pay at the Drive-Thru, and Text to Pay.
paerpay has 8 investors. Key investors include MassMutual, Techstars, Elevate Capital, MassVentures, and Gaingels.
paerpay operates through Paerpay, Inc..