About
Versapay is an AR automation platform with 5M+ businesses on its payment network, up 5x in 18 months. $42M revenue (2024), up from $21M (2023). Processes $170B+ in annual payments and 110M transactions. 10K customers. Acquired by Great Hill Partners for $126M (2020). Reduces past-due invoices 30%. Founded 2006 in Toronto.
Key Facts
- [1]Funding: Total funding: $21M. Last round: Dec 2019. Stage: Growth.
- [2]Employees: Employee count: 201-500.
- [3]Website: Official website: versapay.com.
- [4]AI Technology: Core AI/ML technologies: Predictive ML.
- [5]Region: Region: Americas (Canada).
Founder
Craig O'Neill
CEO
AI Technology
Predictive ML
Traditional ML algorithms for classification, regression, and scoring models
Classification
Market Segments
Tech Stack Layers
Details
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Frequently Asked Questions
What is Versapay?
Versapay is an AR automation platform with 5M+ businesses on its payment network, up 5x in 18 months. $42M revenue (2024), up from $21M (2023). Processes $170B+ in annual payments and 110M transactions. 10K customers. Acquired by Great Hill Partners for $126M (2020). Reduces past-due invoices 30%. Founded 2006 in Toronto. Versapay is classified in the Enterprise Finance segment at the Applications layer of the financial AI stack.
Who founded Versapay?
Versapay was founded by Craig O'Neill (CEO).
How much funding has Versapay raised?
Versapay has raised $21M in total funding, placing the company at the Growth stage. The most recent round closed in Dec 2019. Among 79 funded Enterprise Finance companies, Versapay ranks #62 by total capital raised. (Source: AIFI Map directory.)
What AI technology does Versapay use?
Versapay primarily leverages Predictive ML technology. Traditional ML algorithms for classification, regression, and scoring models. Within the Enterprise Finance segment, 58 companies use this technology.
What market segment does Versapay operate in?
Versapay operates in the Enterprise Finance market segment. AI enterprise finance companies are automating and enhancing the financial operations of businesses — from accounting and treasury management to financial planning, analysis, and corporate finance.
Where is Versapay headquartered?
Versapay is headquartered in Toronto, Canada. The company operates in the Americas region. The team consists of 201-500 employees. Canada is home to 8 financial AI companies tracked by AIFI Map.
Who are Versapay's competitors?
Companies similar to Versapay in the Enterprise Finance space include Unit21 ($92M raised), Kaaj ($4M raised), Lendbuzz ($310M raised), Ramp ($2.3B raised), Brex ($1.5B raised). These companies operate in related areas of financial AI: Unit21 focuses on ai-powered fraud and aml platform. Kaaj focuses on agentic ai for small-business lending automation. Lendbuzz focuses on ai auto financing for underserved populations. (Based on AIFI Map classification data.)
What products does Versapay offer?
Versapay builds applications-layer solutions for the financial services industry. The company's core offering: AI-powered AR collaboration platform. The platform is powered by Predictive ML technology.