About Paynest
Paynest is a company based in London (United Kingdom) founded in 2021. Paynest has raised $3.27 million across 2 funding rounds from investors including CTT, BlueCrow and Lince Capital. The company has 2 employees as of June 30, 2024. Paynest offers products and services including Expense Management, Salary On-Demand, Instant Cashback, and Financial Coaching. Paynest operates in a competitive market with competitors including Wagestream, Papaya Global, Clair, PayFit and CloudPay, among others.
- Headquarter London, United Kingdom
- Employees 2 as on 30 Jun, 2024
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Sectors
TechnologyFinancial Services
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Phone
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Website
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Social
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- Legal Name Paynest Ltd
- Date of Incorporation 06 Jun, 2022
- Jurisdiction DERBY, ENGLAND
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Annual Revenue
Not available
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Net Profit
Not available
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EBITDA
Not available
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Total Equity Funding
$3.27 M (USD)
in 2 rounds
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Latest Funding Round
$1.11 M (USD), Seed
Sep 09, 2024
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Investors
CTT
& 3 more
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Employee Count
2
as on Jun 30, 2024
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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.
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.
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Lince Capital is engaged in venture capital fund management.
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Support is provided to startups for growth and global expansion.
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Diversified asset management is handled across various investment sectors.
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Investor details for Paynest
Investor domains, locations, round participation, and complete history require an active premium plan.
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- Investor locations
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Verified entity values are shown only after access is granted.
Investments & Acquisitions by Paynest
Investment portfolio details for Paynest
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- Portfolio identities
- Transaction dates
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Financial Statements - Paynest
Detailed financials for Paynest
Historical revenue, profit, statement rows, ratios, and trend charts require an active premium plan.
- Historical revenue
- Profit trends
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Paynest Comparisons
Peer comparison for Paynest
Named peer metrics, headcount, funding, location, and side-by-side benchmarks require an active premium plan.
- Named peers
- Headcount comparison
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- Operating benchmarks
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Competitors of Paynest
Paynest 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 Wagestream, Papaya Global, Clair, PayFit and CloudPay, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Financial benefits platform for on-demand pay is provided to employees.
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Cloud-based payroll management solutions are offered for businesses.
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Embedded Earned Wage Access solutions are provided for HR platforms.
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Cloud-based payroll and HR management solutions are offered to businesses.
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Cloud-based payroll software is offered for business management.
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Payroll and HR management for remote teams is facilitated online.
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Detailed competitors of Paynest
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Latest news on Paynest
Complete news archive for Paynest
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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.
As of Jun 30, 2024, the latest employee count at Paynest is 2.
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, Clair and Papaya Global.
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.