Coupay secures £200k in pre-seed funding led by SFC Capital to expand its payment platform.
SFC Capital led the pre-seed round alongside tech founders and angels to help grow the team and refine the product.
Coupay provides an open banking and payments platform that enables small businesses, freelancers, and the self-employed to send smart invoices. The service allows customers to settle payments securely via mobile bank transfers.
London-based fintech startup Coupay has secured £200k in a pre-seed funding round led by SFC Capital, with additional participation from prominent tech founders and angel investors including Will Wynne. The capital will be directed towards expanding the team, enhancing the product offering, and driving marketing efforts to reach a broader base of small enterprises.
The company operates an invoicing and payments platform built on open banking infrastructure, designed to help self-employed workers and small businesses receive funds more efficiently. By cutting down transaction costs and simplifying the payment process, Coupay aims to address the shortcomings of traditional invoicing tools for micro businesses.
From the founder
"In the aftermath of Covid, many amongst us are choosing the self-employed route, which is making the UK economy more vibrant and innovative. Current invoicing tools are not designed for these micro businesses, plus existing payment products take a significant chunk of their invoice value. We are here to change this thanks to Open Banking and our innovative self-service platform"
Ravi Jakhodia
CEO at Coupay
Investor perspective
"SFC were delighted to have led Coupays’ latest funding round. The team is working on a fantastic product aimed at a sizeable market that is currently inadequately served by tech solutions and is ripe for disruption. In a few years from now, manual bank transfers will be a thing of past and we are excited that Coupay can drive this adoption of Smart Payments in the SME space"
Edward Stevenson
Investment Executive, SFC Capital
Use of funds
- 01Grow the team
- 02Continue product development
- 03Invest in sales and marketing