Silicon Valley Daily YayPay Raises $5.3 Million in Funding

Fintech startup YayPay has raised $5.3 million in funding led by QED Investors along with co-investors Birchmere and Fifth Third Capital, the direct equity investment subsidiary of Fifth Third Bancorp, with support from 500 Fintech Fund, Aspect Ventures, Gaingels, Techstars, and Zelkova. The funding will aid YayPay's drive to bring automation to the back-office finance operations of mid-sized enterprises. YayPay will use the funding to grow headcount, pursue product development, and increase sales activities. "With modern software powered by machine learning, we aim to turn finance teams into revenue heroes by giving them workflow tools that finally match in robustness those used by their sales and marketing departments. The funding puts YayPay at a major inflection point in which we can now recruit more great talent, roll out a full suite of intelligent order-to-cash automation software, and accelerate sales activities," said Anthony Venus, co-founder and CEO of YayPay.