# Volopay.co Pte.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/volopay-co-pte

- Industry: Software
- Headquarters: Singapore, Singapore
- Website: www.volopay.co
- Total disclosed funding: $13M
- Latest round: Series A (Mar 22, 2022)
- Investors on record: 13

## About

Volopay is a financial technology company that provides comprehensive solutions for expense management and payment processes, enabling businesses to enhance control over their financial operations.Founded in 2019 and headquartered in Singapore, Volopay.co Pte. Ltd. specializes in financial technology solutions. The firm has completed 5 deals, with the most recent funding occurring on March 22, 2022, when it raised USD 11.25 mn in a Series A round led by JAM Fund, alongside several other investors. The company was co-founded by Rajesh Raikwar and Rajith Shaji, who serves as CEO. Volopay has not undergone any significant pivots in its strategy and does not have any reported subsidiaries.Volopay offers a suite of financial technology solutions designed to streamline expense management and payment processes for businesses. Their core product is a multi-currency corporate card system, which enables organizations to manage and control spending in real-time, thereby enhancing financial oversight and compliance. In addition to corporate cards, Volopay provides automated expense reporting, allowing users to easily track and categorize expenses as they occur, which is particularly beneficial for teams that travel frequently or incur variable costs. The platform serves a diverse client base that includes small to medium-sized enterprises across various sectors, primarily in markets such as Southeast Asia and Australia. By integrating these financial solutions, Volopay aims to address the challenges of managing corporate expenses and ensuring efficient cash flow management.In the most recent financial year of 2021, Volopay reported a revenue of USD 661,853 and an EBITDA of USD -795,193. The company's revenue model is based on subscription fees and transaction-based charges associated with its financial products, which cater primarily to B2B transactions.Following its Series A funding of USD 11.25 mn in March 2022, Volopay plans to utilize the capital to develop new technologies that will enhance its existing product offerings and improve integration. The company is also targeting expansion into new markets, particularly in Southeast Asia and Australia, to increase its reach by 2023. These growth strategies are aligned with Volopay's objective to enhance its service capabilities and further establish its presence in the fintech sector.

## Funding rounds

- Series A, Mar 22, 2022, $11M — Y Combinator Management, LLC, Winklevoss Capital, Soma Capital Management, CP Ventures, Access Ventures, VentureSouq, Antler, Accial Capital, Jam Fund, Rapyd Ventures, Daily Byte, VII Ventures
- Seed, Jan 19, 2021, $2.1M — Y Combinator, Soma Capital Management, CP Ventures, VentureSouq, Antler
- Seed, Oct 20, 2020 — CP Ventures

## Investors

- CP Ventures (https://capitalatlas.ai/funds/cp-ventures) — Seed, Series A
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- Soma Capital Management (https://capitalatlas.ai/funds/soma-capital-management) — Seed, Series A
- VentureSouq (https://capitalatlas.ai/funds/venturesouq) — Seed, Series A
- Antler (https://capitalatlas.ai/funds/antler) — Seed, Series A
- Y Combinator Management, LLC — Series A
- Winklevoss Capital (https://capitalatlas.ai/funds/winklevoss-capital) — Series A
- Access Ventures — Series A
- Accial Capital — Series A
- Jam Fund (https://capitalatlas.ai/funds/jam-fund) — Series A
- Rapyd Ventures (https://capitalatlas.ai/funds/rapyd-ventures) — Series A
- Daily Byte — Series A
- VII Ventures (https://capitalatlas.ai/funds/vii-ventures) — Series A