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Paysail
B2B invoicing and payments using blockchain
- 1-20 employees
- B2B
- Enterprise
- Payments
- SaaS
- Blockchain
- SoMa, San Francisco, CA
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Company mission
Paysail's mission is to enable a bottom-up change for invoicing by offering an instant, global B2B payment experience with immediate access to incoming funds.
Our take
Companies use invoices to pay for many of their major costs, ranging from materials to contract work. Most still rely on solutions built on top of bank transfers or credit cards to complete cross-border payments, which typically take two-five days to complete and represent a $130 trillion global market.
Enterprise payments startup Paysail has built a tool that shortens the cross-border payment process to less than five seconds. To do this, the company uniquely uses blockchain-based stablecoins to conduct the payments with the only cost being a “gas fee” it takes for the transaction to be validated on the blockchain, currently less than one-tenth of a cent.
Paysail is building its tech to allow users who don’t have an existing crypto wallet to start transacting on its platform by generating a noncustodial wallet on users’ behalf through a third-party wallet provider.
Prices, security and speed are the concerns for businesses making international transactions. Paysail is looking impressive on the first and third of those attributes, but any blockchain-based service will have to do a lot of communications and regulatory work to convince customers they can truly trust its service like they do with Bill.com and other non-crypto players today.
Steph
Company Specialist at Welcome to the Jungle
Benefits
- 📈 401k plan
- ❤️ Health, vision, and dental care
- ✅ Team building events & happy hours
- 🏖️ Unlimited PTO
- 🖥️ Shiny new Apple equipment
- 🌎 Remote friendly
Funding (1 round)
Jan 2022
$4m
SEED
Total funding: $4m
Leadership
Nicole Alonso
(CTO)Founded Paysail while at Claremont McKenna College where they studied Economics.
Liam Brennan-Burke
(CEO)Founded Paysail while at Claremont McKenna College where they studied Economics & international Relations. Former Blackrock.