Payra

About Payra

Payra is a B2B payments and accounts receivable (AR) automation platform headquartered in Nashville, Tennessee. The company was founded in 2012 by Riley Lovingood and Peter Philipp Wingsoe. Formerly known as Summit Pay, Payra specializes in serving construction and industrial suppliers that use legacy enterprise resource planning (ERP) systems.

The company's core offering is an AI-enabled software that integrates directly with existing ERP and accounting systems like Trimble Viewpoint, Foundation, Sage, and NetSuite, eliminating the need for businesses to replace their current infrastructure. This allows clients to modernize their cash collection processes by accepting ACH, card, and other digital payments. Payra's platform automates collections, invoicing, payment reminders via email and SMS, cash application, and reconciliation in real time. Key features include a branded client portal, securely stored payment methods for autopay, and smart invoicing.

Payra's business model is designed to help small and mid-sized businesses, distributors, and service providers improve cash flow, reduce past-due invoices, and simplify reconciliation. The company reports that its customers have seen significant benefits, including a 20% reduction in days sales outstanding (DSO) and a 75% decrease in past-due invoices. In February 2026, Payra secured a $15 million growth equity investment from Edison Partners. This funding is intended to accelerate product development, enhance ERP integration partnerships, and expand its market presence within the construction and industrial sectors.