About Payfare
Payfare is a company based in Toronto (Canada) founded in 2014 by Ryan Deslippe and Keith McKenzie was acquired by Fiserv in December 2024.. Payfare has raised $50 thousand across 1 funding round from investors including Fiserv and Bluesky Digital Assets. Payfare operates in a competitive market with competitors including Clair, ZayZoon, Instant, Marmot Benefits and GigCentive, among others.
- Headquarter Toronto, Canada
- Founders Ryan Deslippe, Keith McKenzie
- Stage Public
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Sectors
TechnologyFinancial 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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Funding Insights of Payfare
Payfare has successfully raised a total of $50K through 1 strategic funding round. The most recent funding activity was a Seed round of $50 thousand completed in December 2017. 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 1
- Last Round Seed — $50,000
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First Round
First Round
(07 Dec 2017)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Dec, 2017 | Amount | Seed - Payfare | Valuation | Bluesky Digital Assets |
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| 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 |
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Investors in Payfare
Payfare has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include Fiserv and Bluesky Digital Assets. 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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Cryptocurrencies are mined via AI-driven GPU rigs and ASICs.
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Diversified financial solutions for business processing and management are provided.
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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 Payfare
| 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 - Payfare
| 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 |
Payfare Comparisons
Competitors of Payfare
Payfare 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 Clair, ZayZoon, Instant, Marmot Benefits and GigCentive, 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 |
Embedded Earned Wage Access solutions are provided for HR platforms.
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| domain | founded_year | HQ Location |
Provider of an online financial benefits platform for on-demand pay
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| domain | founded_year | HQ Location |
On-demand payment solutions are offered for businesses and individuals.
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| domain | founded_year | HQ Location |
On-demand payment solutions are facilitated via an online platform.
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| domain | founded_year | HQ Location |
Delivers a cloud-based platform for streamlined payroll management.
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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 Payfare
Frequently Asked Questions about Payfare
When was Payfare founded?
Payfare was founded in 2014 and raised its 1st funding round 3 years after it was founded.
Where is Payfare located?
Payfare is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
Is Payfare a funded company?
Payfare is a funded company, having raised a total of $50K across 1 funding round to date. The company's 1st funding round was a Seed of $50K, raised on Dec 07, 2017.
What does Payfare do?
Payfare was founded in 2014 in Toronto, Canada, as a fintech platform in the gig economy sector. An online service is operated to enable paycheck cashouts on demand, primarily for cab drivers. A reloadable prepaid card is offered alongside a mobile application compatible with Android and iOS devices, supporting financial access for users in the on-demand workforce.
Who are the top competitors of Payfare?
Who are Payfare's investors?
Payfare has 2 investors. Key investors include Fiserv, and Bluesky Digital Assets.