PayAzu

paymentsbill payments

FOUNDING YEAR: 2016
LOCATION: Malaysia
Last Update: 01/05/2020

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About

PayAzu is a mobile payment platform working on bill aggregation. It enables any biller to upload bills; and enable users to pay bills through the platform

MEDICI Analysis

PayAzu is a mobile payment platform working on bill aggregation. It enables any biller to upload bills; and enable users to pay bills through the platform

Focus

PRODUCTS & SERVICES

PayAzu provides a payment platform where billers can seek and track payments in real time and set reminders. Users can pay the bills through the app.

REVENUE MODEL

Service charge from users and percentage cut from billers

PRIMARY PROBLEM SOLVED

The billers can upload, track their bill payments and send reminders in a single click The users can pay, track and set reminders to pay in a single click PayAzu makes everything convenient

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

company provided insights

Traction

NUMBER OF TRANSACTIONS:

40.00

TRANSACTIONS VALUE:

100.00

TRANSACTIONS COMMENT:

We have launched in a controlled environment to test the technology. This will change in the next 1 month.

ACTIVE USERS:

10

ACTIVE USERS COMMENT:

We have launched in a controlled environment to test the technology. This will change in the next 1 month.

People

FOUNDERS

Ravi Madavaram

BOARD MEMBERS AND ADVISORS

Kshitij Chitransh

NUMBER OF EMPLOYEES

1-10

COMMENT:

No team yet.

Momentum

FUNDED

NO

LISTED

NO

For Investors

FUNDING NEEDED:

$650 K

USES OF FUNDS RAISED:

1. Build sales and marketing team

2. Technology

3. Marketing incentives

4. Operating costs

EXIT STRATEGY

If all the below conditions are met, then PayAzu will shut operations. a) No funding by end of Q3, 2017. b) Continuous users less than 10 by Q2, 2017.

MONTHS LEFT WITH CURRENT CASH BURN RATE:

4 months from 4 Apr, 2017

COMPETITORS:

BillPlz

BASICS

FOUNDING YEAR:

2016

LOCATION:

Malaysia

Views:

117 VISITORS | 306 VIEWS
TOTAL EMPLOYEES
1-10

About

PayAzu is a mobile payment platform working on bill aggregation. It enables any biller to upload bills; and enable users to pay bills through the platform

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

PayAzu is a mobile payment platform working on bill aggregation. It enables any biller to upload bills; and enable users to pay bills through the platform

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

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PayAzu

About

PayAzu is a mobile payment platform working on bill aggregation. It enables any biller to upload bills; and enable users to pay bills through the platform

Focus

PRODUCTS & SERVICES

PayAzu provides a payment platform where billers can seek and track payments in real time and set reminders. Users can pay the bills through the app.

REVENUE MODEL

Service charge from users and percentage cut from billers

TOP PROBLEM SOLVED

The billers can upload, track their bill payments and send reminders in a single click The users can pay, track and set reminders to pay in a single click PayAzu makes everything convenient

PRODUCT DEVELOPMENT STAGE

MARKET TRIAL

PRODUCT DEVELOPMENT COMMENT

We have launched end-to-end product. We have a portal for billers to upload, track and send reminders to users. We have native apps (Android and iOS) for users. An intermediate web based user portal is under way. We are also in the process of building an admin portal for supporting operations.

KEY DIFFERENTIATORS

Technology stack is built for robustness and scalability. NoSQL makes app response time less than 2 seconds. Diversification of servers, has made crisis response very efficient. Admin portal is the first view for customer service. Email based customer service decreases resource requirement

PRIMARY CUSTOMER TYPE

Enterprise - Others

Small And Medium Business - Other

Consumer

PRODUCT ATTRIBUTES

SaaS

Customer facing

People

FOUNDERS

Ravi Madavaram

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

CEO: Ravi Kumar Madavaram

CTO: Krishna Chaitanya

CMO: Vidya Pidaparthi

COO: Bindu Yerram

CRO: Leo Lee

FOUNDER: Ravi Madavaram

TEAM COMMENT:

No team yet.

BOARD MEMBERS AND ADVISORS:

Kshitij Chitransh

Momentum

FUNDED

NO

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES