ClickPay, a pioneer in SaaS billing and payment software has raised amount though Series B round of funding which has been reported to be double of the Series A funding amount. The round was led by New York City-based Thayer Street Partners.
Known to be a pioneer in innovative billing and payment solutions for a multi-family and commercial real estate business, ClickPay provides fully integrated billing, payment processing and software services to boost the financial performance of its customers by decreasing operating costs, improving operational efficiencies and accelerating resident satisfaction. Through this the property owners and managers are offered with customizable, electronic solution to bill and collect from their residents the includes online payments, lockbox, on-site check scanning, paper statements and e-billing.
With the fresh funds raised through funding, ClickPay plans to boost the company’s rapid growth, acquire companies that are suitable strategically and to improve the product, physical and technical security infrastructure and also widen the team.
Steven Van Praagh, president and chief operating officer of ClickPay said, “Although we received a high degree of interest from numerous strategic and financial parties, we ultimately selected Thayer Street Partners, which was an existing investor in ClickPay, to provide the additional capital because of our positive experience with them to date. Thayer Street has consistently leveraged its unique network within the real estate and real estate services community and its general small business back-office software expertise to help ClickPay since its initial investment.” He also added, “The additional capital will be used to expand into new markets, to innovate on the product, and ultimately deliver on our vision to shape the future of real estate payments.”
Managing partner of Thayer Street Partners, Josh Koplewicz said, “ClickPay continues to exceed our original expectations, and we are excited to support its rapid growth. The management team’s solution-oriented approach toward serving sophisticated customers continues to impress us, and we remain positive on technology-enabled innovation in real estate services, particularly as it relates to payments.”
The rapid growth and success of the ClickPay has been attributed to the company’s new and existing partnerships with the largest national property management companies that are pioneer in their own industry with best-of breed technology. As a means of moving further, ClickPay plans to expand into international territories too.