The Paygevity offering is now closed and is no longer accepting investments.

Paygevity

A Supply Chain, FinTech Payment Company

Small OPO
New York, NY
Financial Services
Accepting International Investment
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I was inspired to build Paygevity because I wanted to help small businesses get paid immediately on their invoices and disrupt the "vulture-like" commercial banking industry.  I named the company Paygevity because I strongly believe that "paying businesses promptly leads directly to the longevity of a business."  Paygevity is able to transform the supply chain industry through financial and technological innovation.  With the explosive growth of Paygevity's fintech payment platform, PromptPay, no longer does a small business supplier have to wait 45, 60, 90 or 120 days to get paid on their invoices.  No longer does a small business supplier have to take out a "crippling" working capital loan to survive.  Paygevity, through the help (and capital) of its 3rd Party Funding Partners on Wall Street, is able to pay ALL suppliers IMMEDIATELY on their invoices and takes a Discount off their invoice amount that can be as low as 1.00% or even lower than 1.00%.       


Paygevity's technology partner is the company, Salesforce.  The engineers at Salesforce developed Paygevity's PromptPay technology platform for Paygevity.  It's important to note that Paygevity owns 100% of the Intellectual Property ("IP") of PromptPay.  One of the many benefits Paygevity gets from its partnership with Salesforce is that ALL of the Supplier Account Payable data provided to Paygevity from the large corporation is stored on Salesforce's cloud infrastructure.  Therefore, the large corporations have the added comfort that their data is safe, secure and encrypted on the Salesforce cloud.  

An Investment in Paygevity is an Investment in the Future of America's Supply Chain Community

For the last 50 years large corporations in the U.S.A. have been paying their suppliers in 45, 60, 90 and even 120 days.  If you have ever supplied a good or service to a large corporation you know exactly how painful this long waiting period is to your business (and your family).  Large corporations are late payors to their suppliers not because they don't have the cash.  It's just the opposite.  Some of the largest corporations in the U.S.A. that are late payors have billions of dollars of cash on their balance sheets.  Corporations are late payors to their suppliers because they would rather use their cash in ways that maximize their shareholder value.  For example, corporations typically use their hoards of cash for capital expenditures, research & development, investment in new business units, acquisitions, share buybacks, raising their dividends, etc.  These uses of cash contribute directly to maximizing a corporation's shareholder value.  


Paying suppliers on time can be described as an "ethical and noble" business practice; however, it does nothing to maximize a corporation's shareholder value.


Who suffers because of these late payment cycles?  The (small business) supplier suffers!


How can a small business supplier wait 90 days to get paid from their large corporate customer?  They can't!  Suppliers have to make payroll to their employees every 14 days, buy inventory, keep the lights on and run their operations on a daily basis.  Where do suppliers go in order to carry them (or float them) during these long payment cycles?  Suppliers have gone to various commercial bank branches and requested a working capital loan.  Unfortunately, these loans, called "Factoring Loans" or "Working Capital Loans" carry "crippling" terms and conditions on the supplier's business -- (1) high interest rates, (2) high fees, (3) personal guarantees required (i.e. pledging one's house as additional collateral), and (4) very low Loan-to-Value ("LTV") advance rates (typically 70% - 80% of the invoice/account receivable amount).

Solving an efficient supply chain problem, decades in the making, is hard to fix overnight.  We need your help to rebuild the backbone of this country--small business! 

Convertible Note l Minimum $500.00 (US)

Note converts to equity when the company raises $1,000,000.00 or more in a priced round.

Maturity Date: 12/31/2020

$5.0MM Valuation Cap 

17.5% Discount Rate 

4.00% Interest Rate


What is a Convertible Note?

A convertible note offers you the right to receive shares in Paygevity. The number of shares you will receive in the future will be determined at the next equity round in which the Company issues capital equity in the Company to any venture capital, institutional or other investor(s) in an aggregate amount of at least $1,000,000.00.  The highest conversion price per share is set based on a $5.0MM company valuation cap or if less then you will receive a 17.5% discount on the price the new investors are purchasing.  When the maturity date is reached and the note has not converted then you are entitled to receive your investment and interest back from the company.

Solving an Inefficient Supply Chain Problem, Decades in the Making, Is Hard to Fix Overnight

Your investment capital is going to "Fix" this problem and rebuild the backbone of America -- small business! Here is a list of some of the progress we have made to date: 

  • Paygevity's partner, Salesforce, developed our PromptPay platform.
  • Paygevity has a beta pilot program running with a Fortune 500 consumer goods corporation.
  • Paygevity has been asked to onboard sizeable account payable programs for 2 new large corporate clients.
  • Paygevity has already raised $1.0 million in its Convertible Note.


Paygevity's Product

Paygevity's PromptPay Technology Platform "Collapses the Window of Time" between a Corporation's Approval Date of an Invoice and the Actual Payment Date to that Supplier

There's a "SUPPLY CHAIN FACT" that is not known by most people.  The FACT is that most corporations APPROVE invoices from their suppliers IMMEDIATELY; however, they DO NOT PAY their suppliers for 45, 60, 90 or 120 days.  That is a LENGTHY "WINDOW of TIME" to wait to get paid.  Through Paygevity's technological innovation that WINDOW of TIME is COLLAPSED.  In other words, as soon as a corporation automatically notifies Paygevity's technology platform that it APPROVED an invoice (i.e. the supplier's goods or services are satisfactory to the corporation) slightly discounted PAYMENTS are made INSTANTANEOUSLY to the supplier.           


Paygevity is selling working capital flexibility to both the supplier and the corporation.  Suppliers get paid immediately on their invoices at very slight discounts AND corporations get to further extend their Days Payable Outstanding ("DPO") to 120 days and beyond.  It's a Win-Win business model! 

What Makes Paygevity unique?


  • Disruptive to existing commercial banking and factoring sectors 
  • Industry receptive to innovation 
  • Institutional Accounts Payable Payment Platform to Fortune 1000 corporations 
  • Highly scalable business model  
  • Highly profitable business model with very low risk profile  
  • 3rd-Party Funding Partners on Wall Street provide the capital for payments to suppliers 
  • Win-Win Business Model--Working Capital Flexibility to suppliers and corporations 
    • Corporations can extend their Days Payable Outstanding 
    • Suppliers get paid immediately at very low discounts to their invoices without ever posting collateral  

A $1.0 Trillion Market

The total Account Payables amount of Fortune 1000 corporations based in the U.S. is approaching $1.0 Trillion.  All Fortune 1000 corporations fall in Paygevity's targeted market. (Fortune Magazine).

We Need Your Help to Rebuild the Backbone of this Country -- Small Business

What is most compelling for investors?  It's that Paygevity: 

  • Has the ability to scale very quickly. 
  • Its large corporate clients renew their business with Paygevity for many, many years going forward. 

In the Press

Paygevity Announces Launch
April 30, 2015

Today Paygevity, a New York City-based global enterprise payment processing and vendor management company, announced its official launch into the critical supply chain services industry. PromptPay™, Paygevity's proprietary platform, combines powerful connective technology with reliable fast payments capabilities to significantly improve enterprise operating efficiency and reduce trade payment costs. The company serves vendors, suppliers, corporations and governments.

New York City based Fintech Startup Paygevity Raised $100,000
May 19, 2016

PAYGEVITY, INC. closed funding of $100,000, Paygevity is a NYC-based, FinTech, B2B payment solutions company that serves corporations, governments, and their vendors worldwide.

Offering Summary


Company
Paygevity, Inc.
 

Corporate Address
Tower 49, 12 East 49th Street, 11th Floor, New York, NY 10017
 

Description of Business
A supply chain fintech payment company in the B2B space
 

Type of Security Offered
Convertible Note
 
Minimum Investment Amount (per investor) 
$500.0









Convertible Note l Minimum $500.00 (US)

Note converts to equity when the company raises $1,000,000.00 or more in a priced round.

Maturity Date: 12/31/2020

$5.0MM Valuation Cap 

17.5% Discount Rate 

4.00% Interest Rate

What is a Convertible Note?

A convertible note offers you the right to receive shares in Paygevity. The number of shares you will receive in the future will be determined at the next equity round in which the Company issues capital equity in the Company to any venture capital, institutional or other investor(s) in an aggregate amount of at least $1,000,000.00.  The highest conversion price per share is set based on a $5.0MM company valuation cap or if less then you will receive a 17.5% discount on the price the new investors are purchasing.  When the maturity date is reached and the note has not converted then you are entitled to receive your investment and interest back from the company.

Irregular Use of Proceeds

The Company will not incur any irregular use of proceeds.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$420,518.00 USD
$386,000.00 USD
Cash And Cash Equivalents
$98,000.00 USD
$135,000.00 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$18,900.00 USD
$12,000.00 USD
Long Term Debt
$775,500.00 USD
$535,000.00 USD
Revenues And Sales
$0.00 USD
$0.00 USD
Costs Of Goods Sold
$0.00 USD
$0.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$373,882.00 USD
-$161,000.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

TODAY IS THE FINAL DAY TO INVEST

6 months ago

Your investment in Paygevity will be used primarily to enhance our global digital marketplace for both corporate buyers and their vendors.  We serve all industries and geographic regions, and pride ourselves in our ability to customize working capital programs for all types of organizations.

We invite you to stay close to Paygevity's management team and join our movement to revolutionize the Supply Chain FinTech industry!  

We are incredibly grateful for your investment support!

1 DAY LEFT TO INVEST

6 months ago

Paygevity's future continues to hold significant promise.  As a start-up, Supply Chain Financial Technology enterprise, Paygevity is at an exciting and rewarding stage in its development.

My management team and I want to inform you that our attention is now laser-focused on growing our client base.

There is only 1 day left to join our movement to transform the Supply Chain FinTech industry!

We are incredibly grateful for your investment support!


To All Investors: Please Be "Active"

6 months ago

To All Investors:

Please be "Active."  The best investor is one that plays an "active" role in Paygevity.  We wan't to hear from you.  Refer a corporation, supplier, 3rd-Party Funding Partner, employee, etc. to our management team.  At anytime tell us what is on your mind.

There are still 2 days left to invest in Paygevity's Convertible Note at the LOWER Valuation-Cap of $5.0 million.  2 days from now Paygevity will launch a 2nd Convertible Note at a Higher Valuation-Cap.

Remember that we have already raised over $1.4 million in this Convertible 1 Note with the $5.0 million Valuation-Cap from 44 different investors (from 6 different countries) AWAY FROM OUR START ENGINE CAMPAIGN!

There is still time to join our movement to transform the Supply Chain FinTech industry!

Every Paygevity Management Team Member Has Invested--Recently, One Increased His Investment by $100,000

6 months ago

Dear Investors and Followers,

It's important to note that every Paygevity management team member has invested in this Convertible.  Recently, one management team member has increased his investment in this Convertible by $100,000.

Management is clearly aligned with you.

Not only does this show a strong "insider" confidence in our future but it also serves as a strong symbol that your management team believes Paygevity is undervalued.

There are still 3 days left to invest in Paygevity's Convertible Note at the LOWER Valuation-Cap of $5.0 million.  3 days from now Paygevity will launch a 2nd Convertible Note at a Higher Valuation-Cap.

Remember that we have already raised over $1.4 million in this Convertible 1 Note with the $5.0 million Valuation-Cap from 44 different investors (from 6 different countries) AWAY FROM OUR START ENGINE CAMPAIGN!

There is still time to join our movement to transform the Supply Chain FinTech industry!

Paygevity Presents to Companies All Over The World During January 2018

6 months ago

During the month of January 2018 we will be presenting our PromptPay platform to companies based in Australia, Brazil, England, Israel, Germany, and of course, the United States.  Funding the suppliers to these corporations in foreign currency is NOT a challenge because a majority of our 3rd-Party Funding Partners (i.e. Money Center Banks) are headquartered in foreign countries, as well.  

The financial instrument that Paygevity has created (i.e. a 120 Day Account Payable Contract) is short-term, floating rate and a senior obligation of the corporation.  Accordingly, finding the financing is not a challenge (as long as the corporation has a strong credit profile).   

To All Investors and Followers:

There are still 4 days left to invest in Paygevity's Convertible Note at the LOWER Valuation-Cap of $5.0 million.  4 days from now Paygevity will launch a 2nd Convertible Note at a Higher Valuation-Cap.

Remember that we have already raised over $1.4 million in this Convertible 1 Note with the $5.0 million Valuation-Cap from 44 different investors (from 6 different countries) AWAY FROM OUR START ENGINE CAMPAIGN!

There is still time to join our movement to transform the Supply Chain FinTech industry!

     

Venture Capital Funds Continue to Schedule Meetings with Paygevity in NYC

6 months ago

Numerous Venture Capital Funds that invest in FinTech continue to schedule meetings with Paygevity.  We are laser-focused on only meeting with those VC's that can strategically help to grow our client and revenue-base.  

There are still 5 days left to invest in Paygevity's Convertible Note at the LOWER Valuation-Cap of $5.0 million.  5 days from now Paygevity will launch a 2nd Convertible Note at a Higher Valuation-Cap.

Remember that we have already raised over $1.4 million in this Convertible 1 Note with the $5.0 million Valuation-Cap from 44 different investors AWAY FROM OUR START ENGINE CAMPAIGN!

There is still time to join our movement to transform the Supply Chain FinTech industry!

Paygevity Explores Innovation Lab Programs Sponsored by Bulge-Bracket Investment Banking Firms Headquartered in NYC

6 months ago

We are exploring a few different Innovation Lab Programs sponsored by "Bulge-Bracket" investment banking firms headquartered in NYC.  If selected, the investment banking firm invests in our next Covertible II Note Round at a HIGHER VALUATION-CAP than the current Convertible Note offered to you on this StartEngine campaign.  

In addition, the "Bulge-Bracket" investment banking firm will play an integral role in growing our client-base and revenues. 

There are still 6 days left to invest in Paygevity's Convertible Note at the LOWER Valuation-Cap of $5.0 million.  6 days from now Paygevity will launch a 2nd Convertible Note at a Higher Valuation-Cap.

Remember that we have already raised over $1.4 million from 44 different investors AWAY FROM OUR START ENGINE CAMPAIGN!

There is still time to join our movement to transform the Supply Chain FinTech industry!

Due to Investor Oversubscription Away from StartEngine Paygevity Launches 2nd Convertible Note at Higher Valuation-Cap

6 months ago

Due to Investor Oversubscription Away from StartEngine Paygevity Launches a 2nd Convertible Note at a Higher Valuation-Cap.

There are still 7 days left to invest in Paygevity's Convertible Note at the LOWER Valuation-Cap of $5.0 million.  7 days from now Paygevity will launch a 2nd Convertible Note at a Higher Valuation-Cap.

Remember that we have already raised over $1.4 million from 44 different investors AWAY FROM OUR START ENGINE CAMPAIGN!

There is still time to join our momentum!


Paygevity's Founder and CEO Selected as Entrepreneur of the Year by the Financial Policy Council

6 months ago

Neil Rothenberg, Paygevity's Founder and CEO, was selected as Entrepreneur of the Year, by the Financial Policy Council.

The mission of the Financial Policy Council (www.financialpolicycouncil.org) is to formulate and promote sound public policy based on the principles of free enterprise and wealth creation.  The Financial Policy Council is a public policy-oriented organization which seeks to educate and inform the public about economic and fiscal matters.  Moreover, it empowers the public to support and recognize the issues concerning entrepreneurs and investors.

Neil Rothenberg stated, "I could not be more thrilled to accept this award.  It recognizes that Paygevity will be transforming the supply chain industry through financial and technological innovation." 

Remember that we have already raised over $1.4 million from 44 different investors AWAY FROM OUR START ENGINE CAMPAIGN!

There is still time to join our momentum!

With less than 8 days left on our StartEngine campaign we still need your help in sharing this investment news with your friends, colleagues and family members so they, too, can invest in Paygevity. 

Paygevity Sees More International Traction from Private Equity Professionals

6 months ago

Once again, private equity professionals are referring Paygevity to their many different portfolio companies.  We call this the "Multiplier Effect" of targeting private equity professionals.  Last week we were connected to the CFO of a highly profitable, Brazilian-based portfoilio company of a private equity fund.

At the same time, Paygevity adds to its growing list of international 3rd-Party Funding Partners.   

As an early stage investor we ask that you remain connected to Paygevity's vision and mission.  Should you come across a prospective investor, business contact or other professional resource please do not hesitate to reach out immediately.

Remember that we have already raised over $1.4 million AWAY FROM OUR START ENGINE CAMPAIGN!

With less than 9 days left on our StartEngine campaign we still need your help in sharing this investment news with your friends, colleagues and family members so they, too, can invest in Paygevity. 


   

Paygevity's Marketing Strategy Compliments and Adds to its Sales Traction

7 months ago

In late 2017 we began designing a multi-phased enterprise marketing strategy to compliment and add to our existing sales traction.  In the coming weeks you will see an initial overhaul of Paygevity's website to foster increased levels of rapport and dialogue with new sales prospects and late stage leads.  In addition, we have entered sponsorship discussions with several prominent trade organizations to increase our access to sales prospects while enhancing our brand within the Supply Chain FinTech industry.

As an early stage investor we ask that you remain connected to Paygevity's vision and mission.  Should you come across a prospective investor, business contact or other professional resource please do not hesitate to reach out immediately.

 Remember that we have already raised over $1.4 million AWAY FROM OUR START ENGINE CAMPAIGN!

With less than 12 days left on our StartEngine campaign we still need your help in sharing this investment news with your friends, colleagues and family members so they, too, can invest in Paygevity. 


Paygevity Operates in a Highly Scalable and Revenue Recurring Business Model

7 months ago

Our ability to generate recurring revenue from just a few larger corporate clients (from anywhere in the world) is the condition necessary to "trigger" the conversion of your investment into actual shares in Paygevity.

Furthermore, we've ensured that you are rewarded financially while you "wait" to convert into actual shares in Paygevity.  On an annual basis, your investment amount "Pays-in-Kind" ("PIK") and grows with a 4.00% PIK coupon.  For example, if conversion is "triggered" in 2019, a $100,000 investment made today (January 3rd, 2018) will be worth $104,000 on January 3rd, 2019 (before conversion).    

Remember that we have already raised over $1.4 million AWAY FROM OUR START ENGINE CAMPAIGN!

With less than 13 days left on our StartEngine campaign we still need your help in sharing this investment news with your friends, colleagues and family members so they, too, can invest in Paygevity.   

Paygevity Explores Implementing Blockchain

7 months ago

Paygevity has started to explore the design and implementation of a Blockchain ledger for its PromptPay technology platform.

Further technological development to our Supply Chain FinTech platform is a primary use of cash from this capital raise. 

With less than 14 days left on our StartEngine campaign we still need your help in sharing this investment news with your friends, colleagues and family members so they, too, can invest in Paygevity.   

Paygevity in Early Discussions with Venture Capital Firm that Focuses on the Payment Sector

7 months ago

As we enter 2018 Paygevity continues its discussions with a Venture Capital firm that focuses on the Payment Sector.  In addition to a potential capital investment we have the advantage of aligning with other payment companies in our industry.  

Paygevity is ready to have a strong kickoff to 2018! 

With less than 19 days left on our StartEngine campaign we still need your help in sharing this investment news with your friends, colleagues and family members so they, too, can invest in Paygevity.   

Former Wall Street Professional with Private Equity Relationships Indicates Interest to Invest in Paygevity and be an "Active" Investor

7 months ago

A former Wall Street professional, with strong relationships with many different private equity professionals, indicated an interest to invest in Paygevity.

He will be an "active" investor because he will continue to introduce Paygevity to many of his private equity professional contacts.  These private equity professionals source Paygevity to their many different portfolio companies.  We call this the "Multiplier Effect" of targeting private equity professionals.   

As I write this update we've already raised over $1.4 million in investments AWAY FROM OUR STARTENGINE CAMPAIGN!  This amount has far exceeded our funding goal!

With less than 21 days left on our StartEngine campaign we still need your help in sharing this investment news with your friends, colleagues and family members so they, too, can invest in Paygevity.   



 

A Senior Member of Paygevity's Management Team Increases His Family's Investment in Paygevity's Convertible Note by $100,000.0

7 months ago

With strong confidence in our future and a belief that Paygevity is undervalued a senior member of our management team has increased his family's investment in Paygevity's Convertible Note by $100,000.0

As I write this update we've already raised over $1.4 million in investments AWAY FROM OUR STARTENGINE CAMPAIGN!  This amount has far exceeded our funding goal!

With less than 30 days left on our StartEngine campaign we still need your help in sharing this senior management team member's $100,000.0 investment news with your friends, colleagues and family members so they, too, can invest in Paygevity.   


Paygevity's Management Team Sees Strong Sales Traction, Visibility and the "Multiplier Effect" from Private Equity Professionals

7 months ago

One of the best avenues to take in order to get the attention of a CFO of a corporation is to approach its private equity owner.  Moreover, private equity professionals are sourcing Paygevity many different CFO's from their many different portfolio companies.  We call this the "Multiplier Effect" of targeting private equity professionals.   

Below is a short summary of the benefits that Paygevity offers the CFOs of the portfolio companies of private equity owners:

1) Paygevity offers working capital benefits, at NO COST, that optimize cash flow by allowing the portfolio company to extend supplier payment terms. As soon as the portfolio company joins Paygevity’s platform it can use its increased cash flow to invest in any other initiative(s) that will drive additional growth.

2) Simultaneously, Paygevity offers the suppliers a way to mitigate the effect of payment term extensions and to accelerate their own cash flow. Suppliers who participate in our program have the option to get paid early – as soon as an invoice has been approved by the portfolio company. The supplier can accelerate payment on some, all or none of their receivables, depending on their financial position and funding requirements. For those receivables that are paid early, the supplier will pay a small discount.

3) Accounting treatment:  Joining Paygevity’s platform does not count as additional debt for the portfolio company nor the supplier.

4) The discount offered to the supplier is primarily based on the portfolio company's short-term credit profile. For many suppliers, access to a lower cost of funding is exceptionally important.

With only 30 days left on our campaign Paygevity seeks your help (and investment capital) in order to transform the way payments are made to suppliers to the large corporations all over the world.  Please spread the word and share this update with your friends and family so they, too, can invest in Paygevity.

  




WeWork Invites Paygevity to Present at its FinTech Conference in NYC

7 months ago

WeWork is a global network of workspaces where companies and people grow together.  WeWork creates an environment that increases Paygevity's productivity, innovation and collaboration.  

We are honored to be selected as one of the presenting companies at its FinTech Conference in NYC.

We continue to make significant strides toward our mission to transform and disrupt an antiquated supply chain payment system.  

Paygevity seeks your help (and investment capital) in order to transform the way payments are made to suppliers to the large corporations all over the world.  Please spread the word and share this update with your friends and family so they, too, can invest in Paygevity.

Paygevity Initiates Ad Campaign on Twitter

7 months ago

In order to reach potential customers, gain more followers and help us reach our business goals Paygevity initiated an Ad Campaign on Twitter.

We continue to make significant strides toward our mission to transform and disrupt an antiquated supply chain payment system.  

Paygevity seeks your help (and investment capital) in order to transform the way payments are made to suppliers to the large corporations all over the world.  Please spread the word and share this update with your friends and family so they, too, can invest in Paygevity.

Paygevity Advertises its StartEngine Campaign on Facebook

8 months ago

In order to reach a broader audience Paygevity advertises its StartEngine Campaign on Facebook's Ad Manager.

We continue to make significant strides toward our mission to transform and disrupt an antiquated supply chain payment system.  I’m proud of our team’s determination, laser-like focus, and accomplishments to date.  I’m very excited in what our future holds through the remainder of 2017 and into 2018.

Paygevity seeks your help (and investment capital) in order to transform the way payments are made to suppliers to the large corporations all over the world.  Please spread the word and share this update with your friends and family so they, too, can invest in Paygevity.

Paygevity Joins GradLeader Platform

8 months ago

GradLeaders (www.gradleaders.com) is the result of a merger between MBA Focus and CSO Research.  GradLeaders is the market leader in student recruitment and career services technology, connecting leading employers with job-seeking students and alumni from 1,000 university career centers around the world.  Its exclusive school partnerships, extensive campus recruiting network, and industry-leading software solutions, make it the #1 choice of schools seeking to increase employment outcomes and companies seeking high-quality, best-fit, and diverse student talent to join their team.  

Paygevity continues to attract high quality, employee talent.  Paygevity seeks your help (and investment capital) in order to transform the way payments are made to suppliers of the large corporations all over the world.  Please spread the word and share this update with your friends and family so they, too, can invest in Paygevity.  

Paygevity Posts Career Opportunity for its Chief Technology Officer (CTO)

8 months ago

We continue to grow and build out our management team.  Paygevity seeks your help (and investment capital) in order to transform the way payments are made to suppliers of the large corporations all over the world.  Please spread the word and share this update with your friends and family so they, too, can invest in Paygevity.  

Job Posting:  The CTO is an executive position and will be accountable for overseeing Paygevity’s technology vision, engineering execution, innovation, and technological evangelism.  The CTO will provide thought and technical leadership on innovative concepts and technologies driven by Paygevity client needs, industry trends and organizational requirements.  The successful CTO candidate will drive major internal system architectural decisions and product development execution along with external collaboration with partners, industry bodies and developer communities.  The CTO will spearhead and manage Paygevity’s PromptPayTM and envisioned blockchain-enabled financial exchange product development and innovation—guiding the maturity of both products through a deep understanding of workflow payment system processes, financial technology, artificial intelligence, machine learning, distributed systems, system fault modeling and system causality prediction. 

The ideal CTO candidate will have significant technology and operational experience in defining supportability solutions and services for enterprise software payment systems, data center appliances, and enterprise and cloud data centers.  Lastly, the successful CTO candidate will manage Paygevity’s 3rd party development partner, Salesforce, on near-term system upgrades to ensure that Paygevity technologies continue to integrate seamlessly into stakeholder ERP systems (SAP, Oracle, etc.).  The CTO will provide needed general managerial oversight for cost, schedule, and performance during this process.  At the same time, (in parallel) the CTO will focus his/her efforts on developing a strategic technological vision and roadmap for Paygevity’s own development of internal engineering and product management teams.  A proven track record of commitment to results, and creating disruptive technology innovations and influencing communities of developers and users is highly desired.

Article from The New York Times -- "Big Companies Pay Later, Squeezing Their Suppliers" -- Paygevity is Coming to the Rescue!

8 months ago

Big Companies Pay Later, Squeezing Their Suppliers

Stephen Brock, the owner of Supplied Industrial Solutions in Illinois, largely quit selling equipment to Anheuser-Busch InBev after it imposed a 120-day period for paying vendors.

How would you like to have 120 days to pay your creditors?

Adopting a tactic widely used by 3G Capital, the Brazilian private investment group behind the recent merger of Heinz and Kraft Foods, a growing number of the world’s largest food and packaged goods companies are asking their suppliers to give them as much as four months to pay their bills — even though they typically require payment from their own customers in 30 days.

The tactic has gained in popularity ever since an affiliate of 3G Capital put it to use after it bought Anheuser-Busch in 2008.

In the past, extended payment terms often were a signal that a company was experiencing worrisome cash flow problems, but these days big, robust companies are imposing new schedules on suppliers as a business strategy, analysts say.

Bea Chiem, a credit analyst who follows food companies at Standard & Poor’s, offered several reasons that companies might use the tactic: “Their recent performance has been soft, many are in the middle of restructuring and all are trying to balance the need for cash for their business and shareholder returns.”

Diageo, the European spirits company, now asks for 90 days to pay its bills. Mondelez, Mars and Kellogg seek 120 days. The list of companies doing the same reads like a grocery store version of Who’s Who — Church & Dwight, Procter & Gamble and Heinz are among those wanting more generous payment terms, suppliers said.

Most are trying to maximize use of their capital, bankers who work with supply chain finance say. By pushing out payments to suppliers to three and four months, companies have more cash for any number of projects. Mondelez, for one, is buying back stock. Kellogg is in the middle of a restructuring. Procter & Gamble’s move to extend its payment terms to 75 days in 2013 has probably added $1 billion so far to its cash flow, according to one estimate.

“Extending our payment terms allows us to better align with industry practice and ensures we compete on a level playing field, while simultaneously improving transparency and predictability of payment processes,” Valerie Moens, a spokeswoman for Mondelez, maker of Cadbury chocolates, Honey Maid graham crackers and other brands, wrote in an email.

Kris Charles, a Kellogg spokeswoman, wrote that the company started a new supply chain financing program last year, extending payments to 120 days. “It gives Kellogg and our suppliers more flexibility to manage our businesses effectively through better cash flow management,” she said.

The companies would not make executives available to speak about the matter, sending brief statements instead. And most suppliers would comment only without attribution, an illustration of the power imbalance with their big customers.

“Eventually,” said V. G. Narayanan, chief of the accounting practice unit at Harvard Business School, “the additional financing costs that suppliers incur because they aren’t being paid promptly work their way back into higher prices for consumers.”

The practice is often crippling for suppliers, especially smaller businesses that have little cushion. In Britain, the Marketing Agencies Association called on its member advertising agencies to “strike” in April against Anheuser-Busch InBev, the beer behemoth created by an affiliate of 3G, after the company began seeking new terms. Those included acceptance of a payment period longer than 120 days and a request for pro bono work.

Martin Sorrell, the chief executive of WPP Group, the advertising titan, has warned that such practices could turn suppliers into lenders. “I don’t think our purpose is about banking — we’re not a bank — or extended payment terms or agreeing to supply payment terms in low-interest conditions,” he told Advertising Age in an interview shortly after Diageo moved to extend its payments to 90 days.

Stephen Brock is surprised that a revolt against Anheuser-Busch InBev did not happen sooner. Mr. Brock, the owner of Supplied Industrial Solutions in Granite City, Ill., had provided valves, processing instrumentation and mechanical systems to Anheuser-Busch, maker of Budweiser and other beers.

Anheuser-Busch was bought by an entity controlled by Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira, also the principals behind 3G, and merged into InBev in 2008. A year later, Mr. Brock was told that he would no longer be paid for his goods in 30 days; rather, Anheuser-Busch InBev imposed a 120-day period.

The beer giant represented about 5 percent of Mr. Brock’s sales. He ultimately concluded he could better afford to lose the business than wait four months to be paid.

“This really had a dreadful effect on our bottom line,” he said. “And because it hit right in the middle of the recession, it took us about a year and a half to recoup those lost revenues.”

He still does a small amount of business with Anheuser-Busch InBev. The company pays him using a credit card.

“Banks have tightened up lending, especially to small businesses like mine, so it becomes even harder to manage,” Mr. Brock said. “You still have a payroll to make, your own suppliers to pay, electric and other utility bills — they can’t wait four months for payment.”

There are other signs that suppliers are fighting back. Last month, Diageo, which owns Johnnie Walker, Tanqueray and other spirits brands, had to backtrack in Britain after the Forum of Private Business, an organization representing small and midsize businesses, challenged the practice.

The spirits company is a signer of a voluntary agreement, the Prompt Payment Code, made by about 1,700 companies doing business in Britain after regulators threatened to take action against extended payment terms. The agreement holds those companies to 60-day payment terms, so when Diageo began asking suppliers for 90 days, the Forum of Private Business appealed to the group charged with its enforcement.

Diageo now says it will pay its British suppliers in no more than 60 days.

“The practice of implementing grossly unfair trading terms is a growing trend” among some of Britain’s best-known companies, one that “risks breaking the backbone of the economy — small business,” said Phil Orford, chief executive of the Forum of Private Business.

So far, most of the pressure seems to fall on so-called ancillary suppliers, those providing companies with packaging, advertising, equipment and so forth. Diageo, for example, has asked for more extended terms from European suppliers of components for its manufacturing plants, but not from suppliers of sugar, an ingredient it cannot easily do without or readily find alternative providers for.

That may be changing, though. Two major commodities houses, which supply raw materials like coffee, flour, sugar and cocoa to food companies, confirmed that many of their customers were demanding longer payment cycles.

Irit Tamir, a senior adviser in the Oxfam America program aimed at ensuring that big global companies do not take advantage of small farmers and suppliers in the developing world, said she was concerned that such businesses, like Cargill, Bunge, the Noble Group and Archer Daniels Midland, were coming under pressure.

“These things tend to make their way down the supply chain, and we know that the small farmers who produce palm oil, coffee, cocoa and the other commodities those companies need already have an inordinate amount of risk in their lives,” Ms. Tamir said.

But outside the financial industry, few observers approve of the trend. “I think the whole idea is very bad,” Professor Narayanan of Harvard said. “They essentially are going to their suppliers for credit, rather than their banks — and for big, creditworthy companies like these, that’s ridiculous.”

Professor Narayanan said that major retailers had begun extending payments to their vendors some time ago, which in turn encouraged those vendors to put the squeeze on their suppliers. More recently, he said, Wall Street has gotten into the act, pushing companies to extend terms because their competitors are.

Investment analysts “compare one manufacturer to another and say, ‘How come you’re not managing your working capital the way that other company is?’ ” he said. “It becomes a matter of benchmarking, so if one company does it, then other firms fall in line.”


Paygevity Met with Members of the British Consulate--General New York

8 months ago

Members of the British Consulate-General New York met with Paygevity.  Its UK International Trade and Investment Division will assist Paygevity in its international expansion.  The British Consulate will provide us with market research on potential UK corporate clients.  

We continue to seek your help (and investment capital) in order to transform the way payments are made to suppliers of the large corporations all over the world.  Please spread the word and share this update with your friends and family so they, too, can invest in Paygevity.  

Paygevity Becomes a Member of the American Management Association

8 months ago

Membership in the American Management Association (AMA) will help our staff get the latest skills, tools and know-how to do their jobs effectively and deliver results.


AMA Small Business Membership provides Paygevity access to world-class seminars and a full range of workforce solutions for small business and training resources.


An investment in Paygevity is an investment in the "backbone" of this country--Small Business! 

Paygevity Attends NYC Roundtable Discussion of The CFO Alliance

8 months ago

TheCFOAlliance.org provides Finance Executives with the opportunity to build and access a qualified peer network and engage them in an environment where they can openly debate, discuss and dissect the top issues and opportunities keeping them up at night.


We continue to seek your help (and investment capital) in order to transform the way payments are made to suppliers of the large corporations all over the world.  Please spread the word and share this update with your friends and family so they, too, can invest in Paygevity.  

Article on Google Extending its Payout Schedule for its Developers

8 months ago

Google Extends Payout Schedule For Developers By 2 Weeks, As “New Forms Of Payment” Are Added To Google Play

Google recently changed its payout schedule for Android app developers, moving from a window that saw developers paid two days after the month ends, to a new window where the payout date is 15 days after the month’s end. The move will allow Google to hold onto payments longer, which benefits the company of course. But when Google informed developers of the change, it cited “new forms of payment” as the reason for the lengthened window.

In public, a few developers have posted their outrage and/or general confusion to sites like Hacker News and Reddit, speculating that the move, in reality, was prompted by everything from a need to fight spammers to the desire to keep money in the bank longer, where it could grow interest. This response has to do more so with the language Google used to explain the shift, rather than the actual change itself. The company told developers that the move will allow it to “better serve your users and create more revenue opportunities for you,” which is what developers are reacting to.

For small-time developers, it’s hard to see the benefit of having to now wait an extra two weeks for payment. As one developer told me, this could be “the difference between making rent and not” for some app makers. For bigger developers, the move isn’t as damaging, it’s just more of a nuisance. After all, Apple pays out even later, so this isn’t entirely unprecedented here.

But while the big news for developers is the change to the payments window, what jumped out at us from the Google memo is the part where Google introduced the change as coming “while we introduce new forms of payment.” New forms of payment, hmm? Google already supports Visa, MasterCard, Amex and Discover via Google Wallet integration for buying apps and in-app payments. Carrier billing is available in some markets as well. It even has gift cards.What’s missing?

We’re secretly hoping this has to do with that forthcoming option to keep an ongoing “Google Wallet balance” in the upcoming (leaked) version of Google Wallet. When Google rolls out its new, universal Google Wallet plastic card, it’s also introducing a system that will allow end users to deposit money into Google Wallet from their checking account, as well as withdraw it. This would make Wallet operate more like PayPal.

And having a floating cash balance in Google Wallet could, in turn, encourage more users to pay for apps or buy in-app items. According to the leaked info, the cash transfers take up to three to six days to process. That doesn’t necessarily translate into a direct need for another two weeks of processing time on Google’s end, but it could certainly impact the flow of transactions in Google Play.

 Pure speculation at this point, of course, but it’s as plausible an explanation as any.

Article from Crain's Magazine -- Paygevity is Coming to the Rescue

8 months ago

When small manufacturers become the bank

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Erica Wiegel, president of ARO Metal Stamping in Roselle, says that this year more customers are asking for extended payment terms. - Stephen J. Serio

Photo by Stephen J. SerioErica Wiegel, president of ARO Metal Stamping in Roselle, says that this year more customers are asking for extended payment terms.




The shop floor of Erica Wiegel's metal stamping plant doesn't look like a bank, but some customers treat it like one.

Wiegel, president of ARO Metal Stamping in Roselle, says that this year more customers of the 26-employee, $10 million-in-revenue operation are asking for extended payment terms. ARO makes heat sinks, bus bars, springs and other parts, mainly for makers of autos, electrical equipment and lighting. In manufacturing, customers typically pay net 30—really net 45 by the time the check arrives and is deposited. But Honeywell International, which had paid in 60 days, recently asked Wiegel if it could double the terms to 120 days. She agreed to it through January, when the terms will revert, but worries that she'll lose the company's business then.

"All these big companies want us to be their bank," she says. "It's a real ugly, nasty problem right now."

The squeeze is on, and while it extends beyond manufacturing, small factories are feeling some of the worst of it. Boeing, for example, last year began paying suppliers in 120 days. Suppliers sense a shift in industry norms, and the burden of a cash crunch would hit them at a time when many already are upset at Illinois' corporate tax rate returning to 7 percent.

Slow payment outpaced credit card fees, bad checks or customer bankruptcies as the biggest hassle to getting paid for more than half of all small businesses, according to a 2016 survey by the Nashville, Tenn.-based National Federation of Independent Business. In the United States, businesses average a 49-day wait for payment, according to Euler Hermes, a specialty insurance company headquartered in Paris that insures receivables.

But for the types of manufacturers clustered near Chicago, the wait is longer. In 2016, machinery makers in Cook and the collar counties employed about 32,000 workers, while automotive parts manufacturers employed about 9,300, with 13,000 additional auto workers scattered around the state. That year, U.S. machinery makers waited nearly 60 days to be paid, two days longer than in 2015, while automotive manufacturers saw a four-day increase to nearly 55 days.

Dan North, chief economist for Euler Hermes in North America, notes that the company, which services small and medium enterprises, is having "a pretty big year" for trade credit insurance sales.

One reason for the upward creep is the manufacturing industry's improving fortunes, he says. As demand increases and companies expand operations to meet it, they are outgrowing their financing. "Everybody is sending out more and more widgets every month, but not getting paid fast enough," North says.

Companies also are leaning on their suppliers to depress their costs for working capital, says Denise Devitt, vice president and senior commercial banker at BMO Harris with a strong client base among manufacturers. The federal funds rate, a key benchmark for interest rates, has risen from .5 percent to 1.25 percent since July 2016, "and the easiest way for customers to combat this is to slow down how quickly they're paying. It usually doesn't cost them anything, it just aggravates the suppliers."

Small manufacturers who bank at Rosemont-based Signature Bank have used lines of credit more frequently in the last 18 months, says Executive Vice President Kevin Bastuga, though it's unclear whether the uptick comes from longer payment terms or business expansion.

When customers take longer to pay, the pain for small manufacturers is real. Nicole Wolter is president of HM Manufacturing, a $2.8 million company that makes power train components like gears, pulleys and shafts. Boeing is a customer; the Wauconda plant also supplies a company that sells Chicken McNuggets machines to Tyson.

In the past eight months, Wolter says, customers have asked to go from 45 or 60 days to 90. One customer simply began paying invoices in 90 days instead of 60 days without ever acknowledging the change.

Slower payment from customers makes it more difficult to meet payroll or forecast when to buy new machinery. Wolter had to part ways with one company that wanted to move to 120 days.

"As much as it hurts (to lose a customer), it hurts more when you look at your bank account, and there's not much there, and you're waiting on all of this money," she says.

More and more companies see trade payables as a way to bankroll their own business, and "the large ones use their big-boy pants to say, 'If you don't want to do this, we'll find someone else,' " says Craig Zoberis, president of Fusion OEM. The Burr Ridge contract manufacturer generates $12 million in revenue making private-label industrial products for companies like Illinois Tool Works. One customer called him a few weeks before Christmas, when he was handing out bonuses to employees, and asked for a rebate.

"I had to pull myself together," he says. "I said, 'I know you do a lot of business with us, we appreciate that, but I don't see how this could even work.' . . . It was kind of like getting roughed up by the Mafia."

Some small manufacturers are choosing a different option. Jim Carr, who owns Carr Machine & Tool, an Elk Grove Village shop with $2 million in revenue, has also noticed an increase in customers asking to pay in 90 days. He says no. So far it hasn't cost him.





Masatomo ("Masa") Sakairi Invests in Paygevity and Joins Paygevity's Management Team

8 months ago

Masatomo (“Masa”) Sakairi has had a long career in investment banking, mergers & acquisitions, private equity, investment management, turnaround management and most recently as the head of strategy for a listed Japanese manufacturing firm.

Mr. Sakairi first started his career in the Investment Banking Division of Merrill Lynch Japan where he was involved with primarily underwriting equity and debt for financial institutions (FIG).  He then went on to join a small boutique that specialized in advising middle market cross boarder M&A transactions.  After getting his MBA, Mr. Sakairi joined The Carlyle Group’s buyout fund in Japan where he was involved in four investments; all of which made great returns for the fund.  Mr. Sakairi then co-founded a “friendly activist” hedge fund, VARECS Partners with two other partners, one of whom still runs the fund today.  After a few years with the hedge fund, Mr. Sakairi was asked to join a Japanese Government sponsored turnaround fund (at the time, the Enterprise Turnaround Initiative Corporation of Japan – ETIC, now called REVIC) to turnaround companies such as Japan Airlines.  After successfully turning around Japan Airlines and being involved in another turnaround investment, Mr. Sakairi returned to Kito Corporation (Tokyo Stock Exchange 1st Section; 6409), the company which he invested in at both The Carlyle Group and at VARECS Partners.  Mr. Sakairi initially returned to help the CEO make acquisitions in line with the growth strategy of the company.  After making strategic acquisitions in the US, Italy and Australia, Mr. Sakairi became the Chief Strategy Officer looking after all aspects of the business globally.

Mr. Sakairi was born in Tokyo, Japan and was raised in Tokyo, Toronto, Pittsburgh and New York, where he spent much of his youth outside of Japan.  He received his B.A. in Social Science from International Christian University in Tokyo and MBA from Harvard Business School.

We continue to seek your help (and investment capital) in order to transform the way payments are made to suppliers of the large corporations all over the world.  Please spread the word and share this update with your friends and family so they, too, can invest in Paygevity.  

Paygevity Attends Summit 2017: Entrepreneurship at Cornell

9 months ago

On Friday, November 3rd Paygevity will be attending Summit 2017:  Entrepreneurship at Cornell.  The event is located at The Times Center in NYC at 242 West 41st Street.  Check out the event, speakers, schedule, sponsors and attendees on summit.eship.cornell.edu/2017.  This is "Where Ideas Collide."

Paygevity raises $300,000 from New Investors Based in Tokyo and Belgium

9 months ago

A few days ago Paygevity raised $300,000 from new investors based in Tokyo and Belgium.  As a global supply chain, fintech payment company Paygevity seeks to do business with corporations all over the world.


We continue to seek your help to transform the way payments are made to suppliers of the large corporations.  Please spread the word and share this update with your friends and family so they, too, can invest in Paygevity.  

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