CollBox

The company operates on a subscription-based model, providing outsourced A/R specialists who conduct follow-ups on delinquent accounts through emails and phone calls. Pricing is structured in tiers based on the number of clients a firm invoices monthly. For more persistent debts, typically over 90 days past due, CollBox offers a contingency-based service, connecting clients with a network of vetted collection agencies. The fee for this service is a percentage of the amount recovered, usually between 25-35%. This dual approach allows businesses to choose a softer touch for recent invoices and a more formal collections process for older debts.

CollBox's core offering is an application that integrates directly with major accounting software, including QuickBooks, Xero, Sage, FreshBooks, Clio, and Smokeball. This integration automates the identification of overdue invoices, allowing for a seamless handoff to the CollBox team or a partner agency. The platform provides clients with analytics and real-time data to monitor the health of their accounts receivable. By handling the complexities of chasing payments, the service enables business owners to focus on their primary operations. The company secured $1 million in a seed funding round in late 2019, led by Bala Investments, to expand its operations.