On July 27, 2015 when we started YayPay, we needed to get several key ingredients right in order to build a successful company.
The first was a great original idea. We knew from hard earned experience that receivables management was and still is a big pain point for many businesses. We knew that we could apply AI and machine learning technology to this very real business problem. And, over time, build a solution that would provide finance teams with superpowers to collect money faster, in turn making their work lives better. From the very beginning, our vision has been to create the world's smartest accounts receivables automation solution.
We worked tenaciously to test our value proposition, attract venture capital and continually refine our platform to ensure it fit where the AR market was heading. For me, and my co-founder Eugene Vyborov, it has been transformative to experience our idea take shape as we welcomed our first ten, fifty, one hundredth and one hundred and fiftieth customer. Along with the company we have also grown as entrepreneurs and human beings. We will be forever changed by the journey to date and I’m certain this will be echoed by the road yet to travel.
For myself and Eugene, the most important ingredient and the most rewarding part of the journey has been assembling an incredible team. I have been fortunate to be surrounded by exceptional people who bring their talent and passion to this business every day, and have helped grow YayPay from an idea into a successful company.
And now we are ready to start our next chapter.
Today, I'm very excited to share that YayPay has been acquired by Quadient, the driving force behind the world’s most meaningful customer experiences. Our YayPay team will join Quadient's Business Process Automation organization and will continue to focus on building the YayPay platform and supporting our customers.
Being part of Quadient will help us to grow faster, as we benefit from:
- Access to a global sales and marketing organization with product sales in over 90 countries
- A large install base of over 500,000 SMB, mid-market and enterprise customers for us to introduce our solution to
- A global R&D team to assist with building out new capabilities
- A comprehensive document management platform that complements our own offering
- A strong management team focused on growing the YayPay brand
I have been impressed in my dealings with the Quadient team. They are genuinely excited about our platform and our people - and have committed to build out the YayPay brand by delivering strong growth over the next 5 years.
To the YayPay team, I want to say Thank You.
A journey like this one requires a great team. Thank you for your tireless dedication to our customers and to our vision. Without you, we would not have seen the success we have experienced, and we wouldn't be in the position we are today, to scale our offering to new heights. Thank you for your trust and support - I look forward to working with you as we grow together to build the YayPay brand and fulfill our vision of becoming the global market leader.