FinovateSpring 2011 Video Archives >> PayDivvy


Website: www.paydivvy.com
Blog: blog.paydivvy.com
HQ Location:
Orange County, CA
Company Founded: 2009
Product Being Demoed: Group Bill Pay
Product Launched: May 2011
Metrics: $1.3m raised, currently in private beta, 2009 Wharton Venture Award winner, Wharton VIP/incubator alum




Presenter Profile How they describe themselves: PayDivvy is the first and only social bill pay solution (patent pending). PayDivvy provides a smarter way to manage bills by allowing you to pay, send and share bills...simply and socially...via web or mobile. Our technology corrects the status quo by eliminating the fragmentation and voids that exist in bill payment, allowing you to truly pay all your bills in one place and only pay your fair share in real-time. In addition to our core offering, PayDivvy provides premium value via on-time payment guarantee, "deadbeat roommate" coverage, discount and upgrade offers, and bill financing. With PayDivvy, you no longer have to manage social finance separately from personal finance.

How they describe their product/innovation: Typically, with a group of roommates, the bill pay process causes hassle, confusion, social friction and financial drain. Now, these roommates can easily set up all their bills with PayDivvy, indicating how they would like the bill to be split (e.g., by %, by $ amount). PayDivvy will then manage the ongoing process for the roommates, receiving the e-bills, charging the roommates their respective shares, and paying the service provider, landlord or merchant directly. A similar process can be utilized in real-time for offline social bills (e.g., restaurant, bar, travel, membership dues) via mobile device. PayDivvy also serves as your personal bill pay platform, so that you can finally depend on only one solution to manage all bills.

Key Executives: Mike Melby (CEO), Ray Tamblyn (VP of Product)

Key Advisory Board Members: Ori Eisen (Founder of 41st Parameter, Former Global Head of Fraud at AMEX), Colin Gillis (leading Wall Street Tech Analyst)

Contacts:
Bus. Dev., Sales: Omar Karim, VP Business Development, omar@paydivvy.com
Press: Mike Melby, CEO, mike@paydivvy.com

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