About Payitoff
Payitoff is an Education company based in New York (United States) founded in 2017, and was acquired by Array in October 2024. API-enabled solutions for student loan repayment are offered to lenders. It operates in the Education and Financial Services sectors. Payitoff has raised $8.5 million across 1 funding round from investors including Lightspeed Venture Partners, Social Leverage and Array. Its focus areas include FinTech, Alternative Lending, Consumer Debt Management and Debt Repayment. Its competitors include Charlie, Freedom Financial Network and EarnUp; 3 of its 3 listed competitors have raised funding.
Company details
Founded in 2017 and based in New York, United States, Payitoff operates in the fintech sector focused on student loans. API-based tools are provided for loan assessment, enrollment processes, customer engagement, and financial guidance. These services facilitate repayment options with reduced interest rates, assisting borrowers in managing existing debts more effectively within the lending ecosystem.
- Headquarters New York, United States
- Stage Acquired
- SectorsEducationFinancial Services
- Website payitoff.io
- Social LinkedIn X
- Acquired by Array (Oct 2024)
- Total Equity Funding$8.5M (USD)
in 1 rounds
- Latest Funding Round$8.5M (USD), Seed
Nov 2021
- InvestorsLightspeed Venture Partners
& 4 more
- Acquired byArray
(Oct 2024)
Funding Insights of Payitoff
Payitoff has successfully raised a total of $8.5M through 1 strategic funding round. The most recent funding activity was a Seed round of $8.5 million completed in November 2021. 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 $8.5M
- Total Rounds 1
- Last Round Seed — $8.5M
- First Round $8.5M
(Nov 2021)
- Investors Count 4
All 1 funding rounds of Payitoff 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 |
|---|---|---|---|---|---|
| Nov 2021 | $8.5M | Seed | – | Lightspeed Venture Partners |
5 investors in total: 5 institutional.
Investors in Payitoff
Payitoff has secured backing from 5 investors, including venture fund investors. Prominent investors backing the company include Lightspeed Venture Partners, Social Leverage and Array.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital investing in innovative companies across global sectors is undertaken by Lightspeed Venture Partners. | 1997 | lsvp.com | Menlo Park, United States | |
Venture capital firm and fund of funds focused on fintech, Adtech, and multiple sectors | 2009 | socialleverage.com | Scottsdale, United States | |
Venture capital firm focused on multiple sectors | soundventures.com | |||
Seed & early stage tech-focused VC firm funding companies in North America | struckcapital.com | Santa Monica, United States | ||
Credit data integration platform and management tools are provided. | 2020 | array.com | New York, United States |
Investor details for Payitoff
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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People of Payitoff
4 people are tracked at Payitoff (1 in leadership, 2 in board & advisors, 1 in team).
| Name | Role | Group |
|---|---|---|
Steph Reiley | Head of Product | Leadership |
Scott Buchanan | Advisor | Board & advisors |
Jeff Hendren | Advisor | Board & advisors |
Caryn Campelo | Senior Product Manager | Team |
Complete people profiles for Payitoff
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Timeline of Payitoff
3 dated milestones of Payitoff across 7 years, from founding to its latest funding, stage changes and deals.
- Founded Payitoff is founded.
- Funding First funding round of $8.5M.
- Exit Acquired by Array.
Competitors of Payitoff
Payitoff has 3 listed competitors in our database, 3 of them funded. They include Charlie, Freedom Financial Network and EarnUp.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| hicharlie.com | 2016 | San Francisco, United States | $18M | 12 | Expenses and income are tracked via AI text-based tool. | |
| freedomfinancialnetwork.com | 2002 | San Mateo, United States | $235M | 2,152 | Debt consolidation and relief solutions are provided to individuals. | |
| earnup.com | 2014 | San Francisco, United States | $59.25M | 36 | Consumer debt is repaid online via automated micropayments. |
Detailed competitors of Payitoff
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
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- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Payitoff
The website of Payitoff (payitoff.io) receives about 8.1K visits a month.
- Monthly visits8.1K
▲ 260.2% vs previous month
Top companies in Education Technology Platforms
3 companies that operate in the same segment as Payitoff (Education Technology Platforms) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Developer of a platform providing gamified language learning through interactive exercises | 2011 | Pittsburgh, Pennsylvania, United States | USD 183.3 M | USD 748.02 M | 900 | |
Cloud-based software for K-12 education is provided. | 1997 | Folsom, California, United States | USD 32 M | USD 47.59 M | 1,308 | |
Online platform for preschool management and parent updates is offered. | 2014 | San Francisco, California, United States | USD 88.8 M |
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Related news about Payitoff
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Frequently Asked Questions about Payitoff
Payitoff was founded in 2017 and raised its 1st funding round 4 years after it was founded.
Payitoff is headquartered in New York, United States. It is registered at New York, New York, United States.
Payitoff is a funded company, having raised a total of $8.5M across 1 funding round to date. The company's 1st funding round was a Seed of $8.5M, raised on Nov 2021.
Founded in 2017 and based in New York, United States, Payitoff operates in the fintech sector focused on student loans. API-based tools are provided for loan assessment, enrollment processes, customer engagement, and financial guidance. These services facilitate repayment options with reduced interest rates, assisting borrowers in managing existing debts more effectively within the lending ecosystem.
Payitoff's top competitors include Freedom Financial Network, EarnUp and Charlie.
Payitoff has 5 investors. Key investors include Lightspeed Venture Partners, Social Leverage, Array, Sound Ventures, and Struck Capital.
Yes. Payitoff was acquired by Array in October 2024.