Payt Software

About Payt Software

Payt provides a Software-as-a-Service (SaaS) platform for accounts receivable and credit management, designed to automate and streamline the entire invoicing lifecycle for businesses. The company was founded in 2012 in Groningen, the Netherlands, by Sander Kamstra, Aziz Al-Harazi, Merijn Stapert, Rob Rustenburg, and Jelger Gustafsson. The founders, with backgrounds in business economics, accounting, sales, and IT, shared a vision that debtor management could be significantly more efficient.

The platform's core function is to automate the accounts receivable process, which can reduce the time businesses spend on this activity by up to 80% and accelerate invoice payments by 30-50%. It achieves this through features like automated invoice follow-ups, payment reminders, and various online payment options. A key aspect of the service is a customer communication portal that facilitates dialogue, allowing debtors to ask questions or set up flexible payment plans, thereby maintaining a positive customer relationship even in cases of arrears. The software is highly configurable, integrating with over 600 ERP, bookkeeping, and industry-specific systems.

Payt operates on a SaaS business model, serving a diverse client base that includes over 13,000 users across various sectors such as healthcare, education, finance, retail, and manufacturing. Its clients range from small and medium-sized enterprises to large corporations. Initially focused on the Dutch market, where it became a market leader, Payt has expanded its operations to Belgium, Germany, the United Kingdom, Ireland, and Spain. In July 2024, the company announced a ․55 million minority investment from the growth fund of Partech, a global tech investment firm. This strategic partnership is intended to fuel further European expansion and the development of new capabilities, including AI-driven tools for customer communication and payment prediction.