# PayOK

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/payok

- Industry: Financial Services
- Headquarters: Sydney, Australia
- Website: www.payok.com.au
- Total disclosed funding: $3M
- Latest round: Series A (Nov 29, 2021)
- Investors on record: 1

## About

Based in New South Wales, Australia, and founded in 2021 by its CEO, Mr. Colin Porter, who also founded CreditorWatch, a credit reporting agency, PayOK is a software as a service-based platform that helps in reducing fraudulent payment activity. In November 2021, PayOK raised USD 3 million in series A funding led by Nightingale Partners and valued the company at USD 10 million. As of 2021, the company employs 20 people.

The PayOK platform uses bank-grade encryption with AES-256 and SHA-512 and also leverages two-factor authentication and single sign-on (SSO). The company platform confirms the identity and ownership details of a bank account, including the account name, Australian company number, and Australian business number. It allows existing suppliers to edit, change, and update their bank account information whilst identifying fraud and reducing risk.

## Funding rounds

- Series A, Nov 29, 2021, $3M — Nightingale Partners

## Investors

- Nightingale Partners (https://capitalatlas.ai/funds/nightingale-partners) — Series A