PayJoy
Founded Year
2015Stage
Debt - V | AliveTotal Raised
$449.42MLast Raised
$210M | 1 yr agoMosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
+32 points in the past 30 days
About PayJoy
PayJoy focuses on providing credit solutions in the financial services industry. The company's main offerings include providing customers with the ability to afford their first smartphone on credit, using the phone itself as collateral, and offering cash loans with minimal requirements. It primarily serves the financial services sector in emerging markets. It was founded in 2015 and is based in San Francisco, California.
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Expert Collections containing PayJoy
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
PayJoy is included in 4 Expert Collections, including Digital Lending.
Digital Lending
2,271 items
This collection contains companies that provide alternative means for obtaining a loan for personal or business use and companies that provide software to lenders for the application, underwriting, funding or loan collection process.
Payments
3,033 items
Companies in this collection provide technology that enables consumers and businesses to pay, collect, automate, and settle transfers of currency, both online and at the physical point-of-sale.
Fintech
9,294 items
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
Fintech 100
100 items
PayJoy Patents
PayJoy has filed 6 patents.
The 3 most popular patent topics include:
- home appliance brands
- kitchenware brands
- mobile phone manufacturers
Application Date | Grant Date | Title | Related Topics | Status |
|---|---|---|---|---|
3/25/2019 | 7/23/2024 | Home appliance brands, Mobile phone manufacturers, Kitchenware brands, Small appliance manufacturers, Electrolux brands | Grant |
Application Date | 3/25/2019 |
|---|---|
Grant Date | 7/23/2024 |
Title | |
Related Topics | Home appliance brands, Mobile phone manufacturers, Kitchenware brands, Small appliance manufacturers, Electrolux brands |
Status | Grant |
Latest PayJoy News
Sep 19, 2024
A Proven Leader with Lending and Banking Expertise Tapped to Drive PayJoy’s Technology Team and Product Expansion PayJoy , the top financial service provider to the underserved in emerging markets, announced Bharath Ramarathinam as the company’s new Chief Technology Officer. In his role, Ramarathinam will lead further technology and product expansion. “I’m so delighted to have Bharath join our team! His deep experience in credit and financial services will be instrumental as we bring credit to tens of millions more customers,” said Doug Ricket, PayJoy CEO. “His expertise will help us provide more affordable and reliable credit to our underserved customers in emerging markets.” Ramarathinam has 20+ years of experience as a technical leader, architect, and product designer developing and delivering solutions and strategies from the ground up. Prior to PayJoy, he was Global Head of Engineering, Square Banking, Block, Inc. where he led the transformation towards building a robust Banking platform, enhancing the company’s capabilities in moving, storing, and lending money. Ramarathinam also was responsible for scaling and managing Square’s Loans, Checking, Savings, Debit Card, and Credit Card product launches. Before Block, Ramarathinam was Head of Engineering for Intuit’s lending and money movement platforms. During his tenure at Intuit, he launched the Working Capital, Line of Credit, and Get Paid Upfront products for small businesses generating millions of dollars in revenue and helping small businesses get the capital they needed. During COVID, he led the effort across Intuit to launch the Government’s Paycheck Protection Program, and within two weeks of launch delivered over $1.4 billion in funds to more than 34,000 small businesses. “In any career decision, I am looking for a combination of important mission and challenge to solve for and a talented and passionate team to solve with. I found both of these at PayJoy,” said Bharath Ramarathinam, PayJoy CTO. “I am extremely excited to join the PayJoy team to finance the next billion and look forward to working with the team to continue driving innovation and delivering financial services to the underserved.” PayJoy is a mission-first financial service provider dedicated to helping under-served customers in emerging markets to achieve financial stability and success. We lend through our patented technology that turns a smartphone into digital collateral, and our cutting-edge machine learning, data science, and anti-fraud AI allow us to offer the lowest cost and qualify the most customers in the industry. As of 2024 we have brought billions of dollars in credit to 12 million customers, doubling in the last two years while remaining strongly profitable and sustainable for the long term. [To share your insights with us, please write to psen@itechseries.com ]
PayJoy Frequently Asked Questions (FAQ)
When was PayJoy founded?
PayJoy was founded in 2015.
Where is PayJoy's headquarters?
PayJoy's headquarters is located at 679 3rd Street, San Francisco.
What is PayJoy's latest funding round?
PayJoy's latest funding round is Debt - V.
How much did PayJoy raise?
PayJoy raised a total of $449.42M.
Who are the investors of PayJoy?
Investors of PayJoy include Citigroup, Union Square Ventures, Greylock Partners, Warburg Pincus, Invus Group and 21 more.
Who are PayJoy's competitors?
Competitors of PayJoy include Klarna and 5 more.
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Compare PayJoy to Competitors
Klarna specializes in providing payment solutions and services within the e-commerce sector. The company offers a platform for online shopping that includes price comparisons, deals, and various payment options to facilitate purchases for consumers. Klarna primarily serves the e-commerce industry by enabling a seamless shopping experience through its payment and financing services. It was founded in 2005 and is based in Stockholm, Sweden.
Pay.com is a financial technology company specializing in online payment processing. The company offers a suite of payment solutions that enable businesses to accept various payment methods, customize their checkout experiences, and utilize fraud prevention tools. Pay.com primarily serves businesses looking to optimize their revenue through efficient and secure payment systems. It was founded in 2020 and is based in Limassol, Cyprus.
Zilch is a financial services company specializing in consumer credit and payment solutions. The company offers a 'Buy Now, Pay Later' service that allows customers to make purchases and pay for them over a six-week period in four installments, with the option to pay upfront and receive cashback rewards. Zilch provides a virtual Mastercard to facilitate transactions and promotes responsible spending with features like payment notifications and tailored spending limits. It was founded in 2018 and is based in London, United Kingdom.
Sunbit serves as a financial technology company operating in the credit and lending industry. Its main service is providing a pay-over-time technology that allows customers to spread the cost of everyday needs such as auto repairs, dental care, eye care, and veterinary care. It primarily serves sectors such as the automotive industry, healthcare services, and retail. It was founded in 2016 and is based in Los Angeles, California.
Butter is a company that focuses on financial services in the ecommerce sector. It offers a service that allows customers to make online purchases and pay for them over time, including for items such as travel, fashion, tech, and home goods. The company primarily serves the ecommerce industry. Butter was formerly known as Awaymo. It was founded in 2017 and is based in London, England.
Scalapay is a financial technology company offering a buy-now-pay-later service that enables customers to make purchases and defer payments through interest-free installments. The company's main service allows consumers to receive their orders immediately while splitting the payment into three monthly installments without interest, which is facilitated through both online and in-store transactions. Scalapay primarily serves the ecommerce industry, as well as brick-and-mortar retailers, by providing a payment solution that aims to increase basket size and conversion rates for merchants. It was founded in 2019 and is based in Milan, Italy.
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