About Teampay
Teampay is a company based in New York (United States) founded in 2016 by Andrew Hoag was acquired by PayStand in April 2024.. Teampay has raised $56.83 million across 8 funding rounds from investors including Mastercard, SVB and PayStand. The company has 35 employees as of December 31, 2020. Teampay offers products and services including Spend Management, AP Automation, and Corporate Cards. Teampay operates in a competitive market with competitors including Ramp, Navan, Brex, Spendesk and Concur, among others.
- Headquarter New York, United States
- Employees 35 as on 31 Dec, 2020
- Founders Andrew Hoag
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Sectors
TechnologyTravel & Hospitality
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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 Team Labs, 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
$56.83 M (USD)
in 8 rounds
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Latest Funding Round
$35.25 M (USD), Series B
Nov 30, 2022
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Investors
Mastercard
& 14 more
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Employee Count
35
as on Dec 31, 2020
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Acquired by
PayStand
(Apr 25, 2024)
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Products & Services of Teampay
Teampay offers a comprehensive portfolio of products and services, including Spend Management, AP Automation, and Corporate Cards. 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.
Platform automates business spending and approval processes efficiently.
Automates invoice routing and payment for streamlined accounting.
Issues secure virtual cards with spending limits for purchases.
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Funding Insights of Teampay
Teampay has successfully raised a total of $56.83M across 8 strategic funding rounds. The most recent funding activity was a Series B round of $35.25 million completed in November 2022. 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 8
- Last Round Series B — $35.2M
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First Round
First Round
(23 Aug 2016)
- Investors Count 14
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2022 | Amount | Debt – Conventional - Teampay | Valuation |
investors |
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| Nov, 2022 | Amount | Series B - Teampay | Valuation | Fin Capital | |
| Oct, 2020 | Amount | Series A - Teampay | Valuation | Fin Capital |
| 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 Teampay
Teampay has secured backing from 15 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Mastercard, SVB and PayStand. 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 firm focused on fintech and B2B SaaS companies
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Founded Year | Domain | Location | |
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Early-stage technology companies are funded by this venture capital firm.
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Founded Year | Domain | Location | |
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Venture debt firm
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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 Teampay
| 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 - Teampay
| 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 |
Teampay Comparisons
Competitors of Teampay
Teampay 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 Ramp, Navan, Brex, Spendesk and Concur, 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 |
Spend management and accounts payable solutions are delivered to businesses.
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| domain | founded_year | HQ Location |
Corporate travel and expense management are facilitated through SaaS platform.
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| domain | founded_year | HQ Location |
SaaS-driven credit card and spend management solutions platform for businesses
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| domain | founded_year | HQ Location |
Provider of prepaid cards for financial benefits of employees
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| domain | founded_year | HQ Location |
Corporate travel expenses and invoices are managed via SaaS platform.
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| domain | founded_year | HQ Location |
SaaS expense management solutions for business travel are provided.
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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 Teampay
Frequently Asked Questions about Teampay
When was Teampay founded?
Teampay was founded in 2016.
Where is Teampay located?
Teampay is headquartered in New York, United States. It is registered at New York, New York, United States.
Who is the current CEO of Teampay?
Andrew Hoag is the current CEO of Teampay. They have also founded this company.
Is Teampay a funded company?
Teampay is a funded company, having raised a total of $56.83M across 8 funding rounds to date. The company's 1st funding round was a Series A of $5M, raised on Aug 23, 2016.
How many employees does Teampay have?
As of Dec 31, 2020, the latest employee count at Teampay is 35.
What does Teampay do?
Teampay was founded in 2016 and is headquartered in New York, United States. Operations focus on the fintech sector, delivering cloud-based tools for expense approval and management tailored to business travelers. Services include purchase order processing, spending oversight, real-time accounting integrations, and B2B payment functionalities. Employee purchases are requested, approved, paid for, and tracked in real-time through the platform.
What products or services does Teampay offer?
Teampay offers Spend Management, AP Automation, and Corporate Cards.
Who are Teampay's investors?
Teampay has 15 investors. Key investors include Mastercard, SVB, PayStand, Tribe Capital, and Crosscut Ventures.
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