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MOBILE & TELECOMMUNICATIONS | Mobile Software & Services / Payments

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Founded Year



Loan | Alive

Total Raised


Last Raised

$680K | 2 yrs ago

About PayJoy

PayJoy enables consumers with no bank accounts or formal credit history to purchase smartphones on installment payments and get cash loans. It does so by turning the smartphone into collateral through software that locks the phone when payments have not been made.

PayJoy Headquarter Location

655 4th St

San Francisco, California, 94107,

United States


Latest PayJoy News

Top 100 Fintech Startups Making a Breakthrough in 2021

Oct 25, 2021

These fintech startups have been grabbing everyone’s attention in 2021 As we all use mobile banking and make transactions just a click these days, whether it be financial applications to calculate EMIs or insurances, things have become much easier. And all thanks to new fintech startups that have opened the doors for many significant changes in how payments are made. With new technologies coming to space, the fintech startups have been keen to leverage them. The financial service industry now continues to attract tech companies that transform how people and businesses save, spend, borrow and invest and this is also attracting funding that can be helped in the growth of the companies. As more and more companies pour into the fintech space, it can be tough to sift through them and identify the major players. The explosion of fintech startups is quite surprising. Most financial institutions such as banks have made tech-driven changes. The market has been witnessing a great shift from digital loans and mobile stock services to eCommerce payment platforms and digital modes of currency exchanges that are rooted in digital financial access. Fintech is not only about finances now but it also involves several industries and sectors such as education, fundraising, investment management, retail banking, and nonprofit services. It also includes the developments and progress in the crypto market. To give you a wide array of fintech startups and their services, Analytics Insight has listed the top 100 fintech startup companies that are driving the next-generation financial industry. Anyfin saw that very many people pay unnecessarily much interest and fees for their installments, credit cards, and personal loans. That’s where this company reaches out. With the help of smart technology and skipping unnecessary intermediaries, they were able to offer as low an interest rate as possible. And decided right away that they would always try to help you to a better economy. Anyfin claims to do this with a combination of AI and publicly available consumer data, and with additional information garnered through a photo of existing loan statements, including repayment history. This, it says, gives Anyfin a more complete picture than a credit score alone, which is likely the main data point used by the original lender. Atom Bank is a mobile banking application that offers a range of personal and business banking products. Users can log in using face and voice recognition and receive support from a 24/7 customer service team. The application, available on iPad and iPhone devices, was launched in March 2014 and its operations are based in Durham, the United Kingdom. In 2017, Atom was named by LinkedIn as one of the UK’s top 25 start-ups and ranked 14th alongside companies such as Deliveroo, Uber, and Airbnb, and in 2019, Atom ranked second in business analyst Beauhurst’s list of 50 top fintech UK start-ups and scale-ups. It was the only company from outside London in the top 20 of the lists. Azimo is an online money transfer company that provides a fast, secure, and low-cost alternative to legacy high street remittance services. Azimo is created with an explicit mission of cutting the costs of sending money home. Its international money transfer platform allows users to send money either to a bank account or to over 270,000 cash pick-ups. Azimo offers money transfers to 190 receiving countries in over 80 different currencies. The company has half a million customers connected to its platform and offers more than 270,000 cash pick-up locations globally. As of October 2019, sending countries are limited to Europe. Founded: 2001 Focus Area: Outsourced invoicing, ebilling, EBPP, EIPP, billing services, B2B, payment application, online invoicing, print invoicing, cash application, A/R automation, invoice-to-cash, order-to-cash, payments, SaaS, fintech, technology, sales, marketing, and customer success Industry: Financial services Billtrust is focused on making it easier for B2B companies to get paid regularly. It is known as the leading innovator in AR automation with over 40 industries as the client base. This fintech start-up innovates by pushing automation into different areas such as supplier-driven payments network, automated invoice delivery, and many more. It has a record of crossing US$1 trillion invoice dollars processing and more than US$49 billion in total payment volume. Billtrust helps to deploy automation to shift customers seamlessly through the whole order-to-cash cycle. Industry: Financial Services and IT Clyde is a popular fintech start-up that offers product protection as well as drives revenue in the future. It empowers multiple businesses with extended warranties and accident protection to continue the current purchase flow. It helps to increase the average order value while selling a product by leveraging a competitive network of insurance partners. The warranty covers extensions, wear and tear, water damage, and accidents for up to five years. Clyde offers customizable calls-to-action to make the protection seamless while purchasing product protection. The technology platform tends to match warranty contracts with products and provides complete customer information, claims, and program performances on a merchant dashboard as well as a customer dashboard. CreditMantri is one of the fintech start-ups to change the way credit is delivered in India by leveraging the power of technology and digital medium. The main aim is to reinvent the credit landscape by providing consumers full access to responsible and transparent credit options. It offers specific solutions and services to address the needs of consumers and lenders across the entire spectrum such as credit cards, personal loans, small loans, business loanss, credit improvement service, monitoring service, loan restricting, and flexible repayment plans. CreditMantri consists of more than 10 million users with 35 lakhs loan applications processed and over 50 lenders. Industry: Financial services CreditVidya is the leading player in the alternative credit scoring space in India. A pioneer in the domain, it is leveraging alternative data, AI, and machine learning to facilitate institutional credit for the underserved. Its products are helping a large section of the salaried and self-employed population become visible to lenders, by making it financially viable for banks and NBFCs to underwrite customers for much smaller unsecured loans. With over 10,000 data points, CreditVidya’s credit underwriting model is 2x more powerful than traditional bureau scores, helping banks and NBFCs underwrite 15% more individuals, including the completely new-to-credit segment (first-time borrowers). Industry:  Financial services Cube is enabling everyone to invest in the simplest manner possible along with guidance from the world’s top-performing investment managers – the same that guide the world’s richest families. The service is already live in India and is soon to be available across the USA and multiple Asian countries. Cube has an experienced team that comes from the world of fintech, entrepreneurship, design, systems, banking, and global sales. It is founded by Satyen Kothari, a battle-scarred entrepreneur who is on his 5th adventure. He has previously founded Citrus Pay in India and three companies in Silicon Valley. Citrus was sold in 2016 in India’s largest fintech cash deal at the time and was processing $2 bn at its peak and servicing 20 mn users. Industry:  Financial Services Curve is a banking platform that consolidates cards and accounts into one smart card and app. It allows customers to supercharge their legacy banks to the 21st century without leaving their bank or topping up. Curve offers a host of benefits to its customers; it makes cards fee-free when spending abroad, get instant notifications and categorization of spend, earn an instant 1% cashback at the likes of Amazon, Uber, Netflix and Sainsbury’s and Time Travel enables customers to swap spend to a different card in the app for up to two weeks after the purchase was made. Curve also offers Curve Customer Protection, a policy that covers all credit and debit card payments made via the Curve card up to £100,000, giving cardholders an extra layer of protection for disputes with merchants and any unauthorized use of their Curve card. IDC Ventures backs Curve with Fuel Venture Capital, Vulcan Capital, OneMain Financial, and Novum Capital back Curve. Industry:  Insurance Digit is a general insurance company started by Kamesh Goyal and backed by the Fairfax Group. Its services include car insurance, travel insurance, home insurance, commercial vehicle insurance, and shop insurance. The company is driven by a mission to reimagine products and redesign price processes. Car Insurance, also known as auto or motor insurance, is a type of vehicle insurance policy that protects you and your car from any risks and damages caused by accidents, thefts, or natural disasters. So, you will be financially secure in case of any losses that may be incurred because of any such unforeseen circumstances. In addition to that, you will also be protected from third-party liabilities. At Ezetap, veterans from the payments, hardware, cloud, and SaaS industries have joined hands for the sole purpose of ushering in a new era of a frictionless digital payment ecosystem in India. Ezetap’s Smart and Secure capabilities as an intelligent SaaS payments platform are already helping thousands of brick-and-mortar retailers, e-commerce players, enterprises, and financial inclusion organizations, transform their businesses. Vision To be the single solution through which businesses complete any financial transaction with their customers, supporting every instrument and method that their customers want to use. Disruptor. Innovator. Payments Leader. Ranked twice in a row by CNBC in their Global Top 50 Disruptor List in 2016 and 2017, Ezetap has been reimagining payments since 2011. Ezetap is the only payments solution company that has an end-to-end smart payment solution (including hardware) to address the needs of fast-growing enterprise companies. First, to introduce mobile POS SDK for enterprise companies in India, Ezetap is trusted by seven of the top ten mPOS merchants in Asia. As per the Reserve Bank of India POS Report published (Oct 2014-15), Ezetap’s market share was 1/3rd of all terminals activated in 2015. Industry:  Financial services FSS is a global banking and digital payments company, with headquarters in India. The company has 150+ global customers, a team of 2500+ payment professionals, and a presence in India, Africa, Asia Pacific, Europe, the Middle East, and North America. FSS offers an integrated payments portfolio of Software Products & Custom Solutions and ATM, POS & Hosted Services. With 25+ years of experience in the payment domain, FSS offers expertise in Issuance, omnichannel acquiring, digital banking, smart reconciliation, payment processing, monitoring, digital security, payment analytics, and financial inclusion across various delivery channels and ecosystems. FSS’ customers include banks, central regulators, governments, financial intermediaries including third-party electronic payment processors, merchants, and payment associations. Industry:  Information technology &services Finly ensures CFOs & Finance Teams gain complete control & visibility over payables. All of this while increasing the Finance Teams’ productivity by over 80% by automating manual & repetitive operations and by simplifying remote collaboration within finance teams, through a powerful finance communication framework. Streamline invoice approvals, automate reminders, auto-update GLs on accounting systems, ensure audit compliance & governance with a system designed & built for finance teams. By providing the company with complete visibility into its spending, Finly keeps all company business systems in sync and offers the most dynamic reporting in the market. Their goal is to provide finance teams with tools and data that enable them to have real-time insights into their spends to make better strategic decisions and remove all expense management hurdles as your business scales. Founded: 2011 Industry:  Financial services Flywire Corporation (Nasdaq: FLYW) is a global payments-enablement and software company trusted by organizations around the world to deliver on their customers’ most important moments. Unlike other companies, Flywire is proven to solve high-stakes vertical-specific payment and receivables problems for organizations that deliver high-value services. Whether in education, healthcare, travel, or technology, Flywire has vertical-specific insight and technology that allows organizations to optimize the payment experience for their customers while eliminating operational challenges—from invoicing to payment reconciliation. Around-the-clock multilingual support via phone, email, and chat, and online tracking, ensure that both the client and customer have complete control over their payments. Flywire supports over 2,400 clients around the world with diverse payment methods in more than 140 currencies across 240 countries and territories. The company is headquartered in Boston and has offices in Chicago, Palo Alto, London and Manchester (UK), Valencia (Spain), Shanghai, Singapore, Tel Aviv, Tokyo, Cluj (Romania), and Sydney. Industry:  Financial services Forward Financing is a Boston-based financial technology company that provides fast, flexible working capital to small businesses nationwide. Its dedicated account representatives and advanced proprietary technology help customers spend less time finding capital and more time growing their business. With a simple, secure online application, business owners can trust Forward Financing for approvals within minutes, funding within hours, and personalized support when they need it most. Since 2012, Forward Financing has expanded Main Street’s access to credit by providing over $1.2 billion in funding to more than 30,000 small businesses. The company is A+ rated by the Better Business Bureau and consistently receives top ratings across all major customer review platforms. Forward Financing has been named by both Inc. Magazine and the Boston Business Journal as one of the fastest-growing companies in Massachusetts each year since 2017. Forward Financing is committed to helping more small business owners succeed and achieve their full potential. Founded: 2012 Industry: Financial Services Fyp is a numberless prepaid card for teenagers, empowering them with financial literacy. With Fyp Prepaid card, you can make online and offline payments without setting up a Bank Account. The company employs innovative technology to make the process of learning and managing expenses easier for these young, fierce, tech-savvy brains. It is a prepaid card for teenagers and their parents to easily manage their online as well as offline transactions. To give it a twist, it has employed gamification features that will help to inculcate financial literacy in teenagers. Not only this, but they can also check their spending analysis on the app. Hyperface helps companies launch their own credit card program in a matter of 4-8 weeks, as opposed to 18-24 months. Hyperface offers customizable SDKs and APIs to make people design the credit card program of the future for their customers. The startup’s key clients include eCommerce companies, neobanks, and fintech looking to offer credit cards to their customers. It earns its revenue via the pay-as-you-use pricing model. The company believes in empowering brands and fintech to offer banking products contextually to their customers. Its credit cards-as-a-service is a ready-to-go card platform for fintech looking to create a fantastic card experience. Industry: Financial services Khatabook is the world’s fastest-growing Saas company. It has become India’s leading business management app for MSMEs with 50M+ downloads in a remarkably short period of time. Khatabook enables micro, small and medium merchants to track business transactions safely and securely. It also offers features such as online payment collection through UPI and QR; sending periodic reminders to creditors via messages and report generation. Merchants are using its app extensively while adding US$200M worth of transactions every day. The high engagement has resulted in more than 25% of the total active merchants joining the platform through word-of-mouth and referrals. Industry: Financial services Klarna is the leading global payments and shopping service, providing smarter and more flexible shopping and purchase experiences to 90 million active consumers across more than 250,000 merchants in 17 countries. Klarna offers direct payments, pay after delivery options, and installment plans in a smooth one-click purchase experience that lets consumers pay when and how they prefer to. It offers products and services to consumers and retailers within payments, social shopping, and personal finances. Today, the company has 4,000 employees from more than 100 nationalities who all work for the same mission: to reshape shopping, by elevating the entire shopping experience for avid shoppers. Industry: Financial services KredX was started with the single mission of solving working capital challenges for businesses by utilizing an asset lying idle in its balance sheet in the name of accounts receivable. The KredX suite of products gradually evolved from an Invoice Discounting Platform catering to Working Capital requirements to solving bigger problems like early payments for corporate treasuries in the form of Early Payments Technology and Growth Capital solutions while fostering a thriving community of partners. Today, KredX is India’s leading integrated cash flow solutions provider helping enterprises & suppliers through innovative offerings while providing investors with an opportunity to earn high returns at low risk through an alternative short-term instrument. Founded: 2015 Focus Area:  Instant loan, instant loan provider, quick cash loan, money, salary advance loan, short term loans, finance, easy loan. Industry: Financial services Loanwalle is a fintech quick 30-minute loan company with headquarters in Delhi and branches in Mumbai, Hyderabad, Bangalore, Kolkata, and 22 more. Its main USP is to give instant loans to its clients so whatever emergency situation they are finding themselves in gets resolved without any further hurdles. It has gone beyond the tedious waiting periods and speeded up the process of approval in such a way that it gets the client’s loan approved in just 15 minutes. Founded: 2016 Focus Area: Financial technology, banking, credit unions, core banking technology, UI/UX, systems architecture, data security, distributed systems, cloud infrastructure, etc. Industry: Financial services MANTL is an enterprise SaaS company helping traditional financial institutions modernize and grow. Its mission is to expand access to financial services. MANTL’s white-labeled account opening platform enables people to open deposit accounts on any device in roughly 2 minutes and 37 seconds. MANTL began as a challenger bank when an aha moment inspired the founders to pivot from competing to partnering with banks to deploy its technology at scale. It helps community institutions raise billions of dollars in core deposits each year and are proving that they can compete online with the right set of tools. Navi offers instant personal loans to middle-class Indians at attractive interest rates through its mobile app which can be downloaded from the Google play store and within a few minutes users can check their loan eligibility along with the loan amount and interest rate offered. Once the personal loan is approved the user can choose the amount they need and EMI they are comfortable with. After completing the simple and fully online contactless KYC process the loan amount is instantly disbursed to the user’s bank account. Most users are able to complete the process within 10-15 minutes of downloading the app. OakNorth Bank is a UK bank for small and medium-sized companies that provides business and property loans. The bank, which gained regulatory approval in early 2015, was founded by entrepreneurs Rishi Khosla and Joel Perlman, who had previously founded Copal Amba. In 2018, the bank’s pre-tax profit was £33.9m. OakNorth Bank is redefining the way banks lend to the Missing Middle, giving today’s entrepreneurs access to the capital they need to grow, create jobs, build communities, and power the economy. The OakNorth Credit Intelligence Suite gives banks a 360-view of their borrowers, delivering extraordinary insight, and enabling faster, smarter credit decisions to open up new, profitable markets. Industry: Fintech, financial services OFB Tech (OfBusiness) is a tech-enabled platform that facilitates raw material procurement and credit for SMEs with a focus on the manufacturing and infrastructure sectors. It integrates technology to SME’s buying behavior to make available better products, at better prices, in better timelines to customers with comprehensive online and offline support. Key raw materials include metals, chemicals, polymers, Agri commodities, petrochemicals, and building materials. OfBusiness provides SMEs access to cash flow-based financing for buying raw materials through its NBFC ‘Oxyzo Financial Services’. The Company also offers a host of tech services for SMEs including BidAssist for new growth opportunities. Industry: Financial services PayJoy’s mission is to deliver access to credit to the next billion people in emerging markets worldwide. Its unique mobile locking technology gives customers the ability to afford their first smartphone on credit, using the phone itself as collateral, and then provides further access to credit to help weather life’s unexpected financial surprises and climb the ladder of economic well-being. PayJoy has reached millions of customers in a dozen countries around the globe, including Mexico, Brazil, India, Kenya, and South Africa, and is on a strong growth path with support from major industry partners to bring credit to the next billion emerging consumers. Founded: 2008 Focus Area: Financial services, banking, data sciences, loan analytics, data analytics, machine learning, artificial intelligence, credit underwriting, fintech, credit risk management, and machine learning data platform Industry: Fintech, financial services Perfios is a leading product technology firm that helps organizations gather structured and unstructured data, curate it, analyze it, and use it to make better decisions. Perfios’ product solutions assist businesses in developing vertical apps across a variety of sectors. In the last nine years, Perfios has gained over 100 big clients in India and overseas, including banks, NBFCs, digital lending platforms, mutual fund firms, insurance companies, and human resources. Founded: 1998 Focus Area: Payment solutions, card swipe machine (GPRS, WiFi, NFC, DGPRS), EMI at POS, business loan at POS, mobile wallet acceptance at POS, POS integration with the billing system, card points redemption at POS, and POS integration with the billing system Industry: Information technology and services Pine Labs provides a merchant platform with technological and financial solutions to assist merchants in growing revenue, lowering the cost and complexity of running a business, and managing the risks that come with it. The firm brings together financial institutions and consumer brands to enable merchants to provide value to their consumers. Pine Labs and its technology platform enable physical and online last-mile retail transactions, give merchants consumer data for targeted sales, and provide risk-managed finance solutions to help merchants expand their businesses. Industry: Financial services Prodigy Finance was founded by three INSEAD MBA alumni who had first-hand experience with the challenges of funding an overseas degree. They decided to tackle this problem and revolutionize the industry in 2007, and since then, Prodigy Finance has supported over 19,000 students from 115 countries attending over 750 institutions all over the world. Prodigy Finance thinks that talent knows no boundaries and that the greatest education should be offered to the most deserving pupils. The firm offers no-collateral education loans to worldwide master’s students who wish to follow their dreams at the world’s top universities. Founded: 2014 Focus Area: Financial products, payment processing, payout processing, banking services, neo banking, working capital loans, E-commerce fraud detection, and payroll processing Industry: Computer Software Razorpay is the first full-stack financial solutions provider in India. They’re on a quest to improve the payment experience for more than 300 million people. They hope to make it possible for Indian businesses, large and small, to take payments online with little effort and maximum convenience. Razorpay has evolved from a payment gateway provider to a solutions-oriented company with a broad product suite for accepting and disbursing payments, as well as raising funds and parking money. In a nutshell, the corporation may be found in every nook and cranny of your organization that involves money. Founded: 2015 Focus Area: Insurance, two-wheeler insurance, car insurance, motor insurance, health insurance, life insurance, online insurance, insurance POSP advisors, travel insurance, insurance advisor, and insurance POSP Industry: Financial Services Indraneel Chatterjee and Balachander Sekhar founded RenewBuy in 2015. Its business operates on a B2B2C model, with a unique technology platform (App & Web platform) that allows their trained POSP (point of sale person)/advisor to sell insurance to their clients. RenewBuy operates based on a digital agent model, which provides transparency and quick insurance at cheaper costs from a variety of sources. RenewBuy has 42 offices with a total of 1312 employees and works with over 20 insurers in the areas of auto, health, life, and travel insurance. Venmo is a mobile payment service that is owned by PayPal. The account holders of Venmo can transfer funds to others via a mobile phone app, but the only condition of this payment app is that both the sender and receiver need to stay in the U.S itself. It is a digital wallet that can make money transactions easier for everyone ranging from students to small businesses. The users can purchase items and split checks without using a credit card. It also allows you to choose a funding source by linking a credit card, bank account, or using the Venmo balance too.

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Research containing PayJoy

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned PayJoy in 1 CB Insights research brief, most recently on Oct 24, 2019.

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 3 Expert Collections, including Digital Lending.


Digital Lending

1,334 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.



1,772 items

Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.



7,256 items

US-based companies

PayJoy Patents

PayJoy has filed 4 patents.

The 3 most popular patent topics include:

  • Electrolux brands
  • Home appliance brands
  • Kitchenware brands
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Home appliance brands, Microcontrollers, Wireless networking, Embedded systems, Diagrams


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Home appliance brands, Microcontrollers, Wireless networking, Embedded systems, Diagrams



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