5 years ago

Procurement Automation Platform Paid Secures £2.2M Seed Funding

  • Paid, a Darlington-based procurement automation platform, has secured £2.2 million in seed funding

  • The round was led by Crane Venture Partners, with participation from Seedcamp and Techstars

  • Angel investors also contributed to the funding

  • Paid's software streamlines the procurement process, reducing time and costs for both buyers and suppliers

  • The company plans to use the funding to expand its team and customer base.

      • ProblemTechnology

      "enterprises struggle with managing their long tail procure-to-pay process, which is costly and time-consuming, making it difficult to access innovative suppliers quickly and easily."

      Solution

      "Paid offers a comprehensive platform that simplifies the procure-to-pay process, enabling efficient onboarding, project scoping, sign off and invoicing, all in one easy-to-use product. This allows enterprises to manage their supply chain more effectively, saving time and money."

      Covered on