Investment in Payn, an automated billing tool for charging and collecting cancellation fees

Genesia Ventures has made a follow-on investment as the lead investor in Payn, a company streamlining the process of charging and collecting cancellation fees. This investment is part of the pre-series A round and is made through Genesia Venture Fund No. 3 (GV-3).

About Payn

Payn is a billing tool designed to simplify and manage the process of charging and collecting cancellation fees for businesses with cancellation policies, such as hotels and restaurants.

Payn Official Website: https://payn.io

In industries like hospitality and dining where reservations are prevalent, cancellations pose numerous challenges. Issues range from customers who fail to turn up, to the onerous task of charging cancellation fees, and the problem of unpaid fees despite billing.

Payn launched in October 2022 in response to these challenges, automating the process of charging and collecting cancellation fees.

Since its launch, the company has been developing various features and integrating with reservation management services across different industries. This has led to a steady rise in its adoption among various businesses, particularly in the hospitality and dining sectors.

About the Investment

Koki Mizutani, Investment Manager at Genesia Ventures

Following our seed round, I am excited to lead the funding for Payn in this pre-Series A round as well. We are increasingly receiving positive feedback from customers as Payn fine-tunes its growth strategy, and it’s becoming clearer that we are getting closer to Payn’s vision of becoming the de facto standard in this domain. With several strategic initiatives underway, we are expecting continuous and dynamic growth moving forward.

Company Profile

Company Name: Payn, Inc.
WEB: https://payn.io/about
Address: Nihombashi Kabutocho 5-1 Chuo-ku, Tokyo
CEO: Kyohei Yamashita