Valencia-based fintech Uelz Pay gets €800k to adapt payment processes faster and frictionless for each business
Summary
Its founders, María Luque and Xandra Etxabe, operated in several countries with their previous startup and were forced to set up several payment methods, which led them to have to pay high fees that were reflected in a considerable decrease in their profits. “At Wayra we are very pleased to invest in a financial startup like Uelz Pay at a time when a key digital transformation is taking place in the banking sector, through new technological tools and purely digital business models such as fintechs,” commented Marta Antúnez, director of Wayra Barcelona. Once done, the company can integrate the Uelz system into its own platform via API or generate payment links to be able to share invoices via social networks, WhatsApp or email. It also allows them to monitor all payment transactions made and receive metrics and sales information, which are crucial for the company to make decisions. All data is stored securely and after each transaction error the platform issues the recovery, thus significantly reducing the default rate.