With 70 users in 2021 and a €8M pre-money valuation, AirPay is looking to raise €0,49M seed funding from Nordic investors to validate its AirPay Visa card and eReceipt functionality, sign up 800 more cardholders in 2022 and 9000 in 2023, strengthen the team and kick start international sales.
AirPay streamlines payment transaction and accounting processes by digitizing receipts. AirPay’s current customers include small and mid-sized companies as well as accounting agencies.
In the market for corporate payment and receipt processing worth €12B yearly (+ 5% CAGR / year), AirPay was founded in 2010 in Espoo, Finland. AirPay is monetizing mainly through co-issuing services charged to accounting agencies and banks. Revenue growth is projected at over 150% yearly, reaching €50M+ by 2025. AirPay team of 6 combines 120+ years of commercial, banking and fintech expertise.
AirPay has already raised €3M private capital and €0,7M public grants and loans to develop AirPay issuing capabilities and e-Receipt intelligence, which means that, after this investment round is secured, AirPay is fully ready for commercial uptake.
We aim to close this seed round by when emission is fully subscribed, with some minority investors already committed to join. €10k is the minimum investment ticket size.
Get in touch with Marco Torregrossa to find out more.