About Paynest
Paynest is a Technology company based in London (United Kingdom) founded in 2021. Online platform for financial education and payroll management. It operates in the Technology and Financial Services sectors. Paynest has raised $3.27 million across 2 funding rounds from investors including CTT, BlueCrow and Lince Capital. The company has 2 employees. Paynest offers products and services including Expense Management, Salary On-Demand, Instant Cashback, and Financial Coaching. Its focus areas include FinTech, Finance & Accounting Tech, Payroll Management and Investment Tech. Its legal entity is PAYNEST LTD. Its competitors include Wagestream, CloudPay and Omnipresent; 3 of its 3 listed competitors have raised funding.
Company details
Paynest was established in 2021 in London, United Kingdom, as an online platform focused on the fintech sector. Financial education resources are offered alongside payroll management tools to support users in handling personal and business finances. Operations center on digital services accessible through the paynest.co domain, with a primary emphasis on the UK market while enabling broader online reach for educational and administrative needs.
- Headquarters London, United Kingdom
- Employees 2
- SectorsTechnologyFinancial Services
- Website paynest.co
- Social LinkedIn
- Legal Name Paynest Ltd
- Date of Incorporation 06 Jun, 2022
- Jurisdiction DERBY, ENGLAND
- Total Equity Funding$3.27M (USD)
in 2 rounds
- Latest Funding Round$1.11M (USD), Seed
Sep 2024
- InvestorsCTT
& 3 more
- Employee Count2
Products & Services of Paynest
Paynest offers a comprehensive portfolio of products and services, including Expense Management, Salary On-Demand, Instant Cashback, and Financial Coaching.
AI platform for automating business expense tracking and reporting.
Service providing instant access to earned wages and bonuses.
Feature offering cash rewards on transactions for employee benefits.
Tool for improving employee financial health through guidance and insights.
Funding Insights of Paynest
Paynest has successfully raised a total of $3.27M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $1.11 million completed in September 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 $3.27M
- Total Rounds 2
- Last Round Seed — $1.11M
- First Round $2.16M
(Dec 2023)
- Investors Count 4
All 2 funding rounds of Paynest 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 |
|---|---|---|---|---|---|
| Sep 2024 | $1.11M | Seed | – | Lince Capital, BlueCrow | – |
| Dec 2023 | $2.16M | Seed | – | Lince Capital |
4 investors in total: 4 institutional.
Investors in Paynest
Paynest has secured backing from 4 investors, including venture fund and institutional investors. Prominent investors backing the company include CTT, BlueCrow and Lince Capital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Lince Capital is engaged in venture capital fund management. | 2018 | lince-capital.com | Lisbon, Portugal | |
Support is provided to startups for growth and global expansion. | m4ventures.pt | Lisboa, Portugal | ||
Diversified asset management is handled across various investment sectors. | 2010 | bluecrowcapital.com | Lisbon, Portugal | |
Postal and financial services, including delivery and insurance, are provided. | 1520 | ctt.pt | Lisbon, Portugal |
Investor details for Paynest
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
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- Investor portfolios
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Verified entity values are shown only after access is granted.
Timeline of Paynest
3 dated milestones of Paynest across 3 years, from founding to its latest funding, stage changes and deals.
- Founded Paynest is founded.
- Funding First funding round of $2.2M.
- Funding Latest funding round, Seed, of $1.1M.
Competitors of Paynest
Paynest has 3 listed competitors in our database, 3 of them funded. They include Wagestream, CloudPay and Omnipresent.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| wagestream.com | 2018 | London, United Kingdom | $133.02M | Financial benefits platform for on-demand pay is provided to employees. | ||
| cloudpay.com | 1996 | Andover, United Kingdom | $334M | 171 | Cloud-based payroll software is offered for business management. | |
| omnipresent.com | 2019 | London, United Kingdom | $137.8M | Payroll and HR management for remote teams is facilitated online. |
Detailed competitors of Paynest
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Paynest
The website of Paynest (paynest.co) receives about 2.8K visits a month.
- Monthly visits2.8K
▼ 15.7% vs previous month
Top companies in Investment & Financial Technology
2 companies that operate in the same segment as Paynest (Investment & Financial Technology) in United Kingdom, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Online data source platform for information, analytics, and solutions for governments and financial markets | 1959 | London, England, United Kingdom | USD 1.41 B | |||
AI-based platform for automated personal spend management is provided. | 2016 | London, England, United Kingdom | USD 75.78 M |
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Frequently Asked Questions about Paynest
Paynest was founded in 2021 and raised its 1st funding round 2 years after it was founded.
Paynest is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Paynest is a funded company, having raised a total of $3.27M across 2 funding rounds to date. The company's 1st funding round was a Seed of $2.16M, raised on Dec 2023.
Paynest has 2 employees.
Paynest was established in 2021 in London, United Kingdom, as an online platform focused on the fintech sector. Financial education resources are offered alongside payroll management tools to support users in handling personal and business finances. Operations center on digital services accessible through the paynest.co domain, with a primary emphasis on the UK market while enabling broader online reach for educational and administrative needs.
Paynest's top competitors include Wagestream, CloudPay and Omnipresent.
Paynest offers Expense Management, Salary On-Demand, Instant Cashback, and Financial Coaching.
Paynest has 4 investors. Key investors include CTT, BlueCrow, Lince Capital, and M4 Ventures.
Paynest operates through Paynest Ltd.