Valencia-based fintech Startup Uelz Pay Secures €800k in Funding
Summary
Along with existing investors Angels Capital and TheVentureCity, Wayra, Telef\xf3nicas open innovation initiative, is taking part in this new round of funding. Other investors include Core Angels, Ivan Pe\xf1as Uhaldia investments investment vehicle, and several fintech business angels, like David Lozano WealthReader and Alex Saiz from Monei.Maria Luke, CEO and Co-Founder of Uelz Pay said, We are convinced that Wayras entry will help us to take the next step in the consolidation and growth of the company. The challenge of managing collections in companies with recurring revenues is not just a technical challenge, it affects the entire billing process of a company and solving it can be the difference between survival and death,.The leading entrepreneurial event in southern Europe, South Summit 2023, was won by the Valencian startup. Every piece of information is securely saved, and the platform gives a recovery after every transaction error, thereby substantially reducing the standard rate.Read also Accenture Acquires ON Service GROUP to Help Insurers in Germany Improve Operational ResiliencyMarta Ant\xfanez, director of Wayra Barcelona said, 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,.was founded in 2022 with the intention of simplifying business payments while meeting the distinctive needs of every organisation. With their previous startup, Mar\xeda Luque and Xandra Etxabe, had to set up a lot payment mechanisms because they operated in multiple countries.Read also Tikehau Capital Launches the New Vintage of Brienne with a First Close at 200 millionwhich forced them to pay costly fees, which drastically lowered their earnings.
Funding
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