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PayEm

Business Expense Management
B2B SaaS Management Platforms
Product stageSegments
Early
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Business expense cards, Non-card expense management platforms, Business payout management platforms
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PayEm is an Israeli company offering financing and expense management solutions, primarily for businesses with global operations. The company looks to break the informational and procedural silos created in businesses when procurement and expenses are handled outside of the central finance teams and in several locations across the globe. PayEm is compatible across the globe, and lets users send funds to over 200 territories in 130 countries (as of January 2023). The company also has an office in New York, in addition to its Tel Aviv headquarters.

PayEm’s procurement and payout management solution governs the entire process from creating invoices and bills, to approving, scheduling, and making payments (one-off and recurring). Users can make payments through several means, including ACH and wire transfers, as well as through credit cards. They can also issue dedicated virtual cards for its vendors. 

In addition to streamlining the payment process, PayEm also offers its customers credit lines and other flexible payment options. PayEm also launched the “One Click Reconciliation” feature in November 2021, which allows finance teams to insert and sync multiple transactions at once. 

The company offers card and non-card expense management platforms as well. It lets companies issue physical and virtual business expense cards - for one-off or recurring expenses - that offer real-time transaction visibility and can be integrated with digital wallets (such as Apple Pay and Google Pay). Its non-card expense reimbursement platform lets users upload photos of receipts and automates the approval flows to streamline the process. 

PayEm can also automate the reconciliation and accounting processes by being integrated with ERP and finance softwares such as QuickBooks and Xero. It can also be integrated with HR, travel, and business communication (such as Slack) platforms. 

Key customers and partnerships

PayEm has over 100 customers (as of January 2023) across several industries, including Fiverr, Jfrog, and Next Insurance. The customer base reportedly grew nearly 300% in 2022. 

The company partnered with American Express (Amex) in June 2023, to enable Amex users to create and distribute virtual cards to employees, through existing Amex accounts, using the PayEm platform.  

Funding and financials

The transaction volume handled by PayEm rose 4x QoQ in Q2 2021, and the company’s revenue exceeded USD 1 million. PayEm further noted that its revenue grew around 550% YoY in 2022.

PayEm raised USD 220 million in funding, in January 2023, comprising a USD 200 million credit line and USD 20 million in Series A funding. The funds were earmarked for expanding the company’s card operations, serving large customers, and improving employee experience within its platform. 

Business Expense Management

Business Expense Management

Key stats
Featured companies
75
Total funding (USD)
14.2 Bn
Total addressable market (USD)
13.1 Bn
Key competitors
 
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Company profile
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Recent Updates

Funding
Jan 24, 2023
PayEm raises USD 220 million in a mix of equity and debt funding
Business Expense Management

Company Brief


HQ location:
Tel Aviv ISR
Founded year:
2019
Employees:
51-100
Total Funding:
USD 247.0 million
Last Funding
USD 20.0 million, Jan 2023

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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