About paerpay
paerpay is a company based in Worcester (United States) founded in 2017 by Derek Canton.. paerpay has raised $7.19 million across 4 funding rounds from investors including MassMutual, Techstars and Elevate Capital. paerpay offers products and services including Voice AI Answering, AI Ordering, Pay at the Table, Pay at the Drive-Thru, and Text to Pay. paerpay operates in a competitive market with competitors including TabbedOut, MyCheck, SpeedETab, Mogl and Ziosk, among others.
- Headquarter Worcester, United States
- Founders Derek Canton
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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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Social
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- Legal Name Paerpay, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$7.19 M (USD)
in 4 rounds
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Latest Funding Round
$700 K (USD), Debt – Conventional
May 31, 2024
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Investors
MassMutual
& 7 more
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Employee Count
Employee Count
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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. 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.
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.
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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 Total Funding
- Total Rounds 4
- Last Round Debt – Conventional — $700,000
- First Round First Round
- Investors Count 8
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2024 | Amount | Debt – Conventional - paerpay | Valuation |
investors |
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| Mar, 2022 | Amount | Seed - paerpay | Valuation | MassMutual | |
| Dec, 2021 | Amount | Seed - paerpay | Valuation | MassMutual |
| 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 |
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. 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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Venture capital fund focused on underserved entrepreneurs is provided.
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Founded Year | Domain | Location | |
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Tech focused early stage VC firm investing in the US
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Founded Year | Domain | Location | |
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Startups are accelerated globally without sector restrictions through structured programs.
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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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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by paerpay
| 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 - paerpay
| 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 |
Paerpay Comparisons
Competitors of paerpay
paerpay 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 TabbedOut, MyCheck, SpeedETab, Mogl and Ziosk, 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 |
Mobile payments and marketing for hospitality venues are facilitated.
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| domain | founded_year | HQ Location |
Provider of digital solutions for the hospitality industry
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| domain | founded_year | HQ Location |
Mobile ordering at restaurants & bars
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| domain | founded_year | HQ Location |
Card-linked cashback rewards are offered for restaurant and bar spending.
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| domain | founded_year | HQ Location |
Provider of restaurant technology solutions for streamlined operations and enhanced guest experiences
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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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Latest news on Paerpay
Frequently Asked Questions about paerpay
When was paerpay founded?
paerpay was founded in 2017 and raised its 1st funding round 1 year after it was founded.
Where is paerpay located?
paerpay is headquartered in Worcester, United States. It is registered at Worcester, Massachusetts, United States.
Who is the current CEO of paerpay?
Derek Canton is the current CEO of paerpay. They have also founded this company.
Is paerpay a funded company?
paerpay is a funded company, having raised a total of $7.19M across 4 funding rounds to date. The company's 1st funding round was a Seed of $4.19M, raised on May 23, 2018.
What does paerpay do?
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.
Who are the top competitors of paerpay?
What products or services does paerpay offer?
paerpay offers Voice AI Answering, AI Ordering, Pay at the Table, Pay at the Drive-Thru, and Text to Pay.
Who are paerpay's investors?
paerpay has 8 investors. Key investors include MassMutual, Techstars, Elevate Capital, MassVentures, and Gaingels.