Overview of NextPay

NextPay is a fintech company based in Makati, NCR, Philippines, with a focus on serving small businesses and entrepreneurs. The company was founded in January 2020 and is part of the Y Combinator W21 batch. NextPay operates primarily in the Philippines and Southeast Asia, including remote and partly remote regions. With a team of 65, the company aims to simplify financial operations for local businesses through a user-friendly platform.

Services Offered by NextPay

NextPay provides a range of digital banking services tailored for small businesses and entrepreneurs. The platform enables users to send invoices, collect payments, handle payroll, and manage bill payments without setup fees, maintaining balances, or meeting high requirements. Key features include Supplier Payments, Batch Disbursements, Employee Salaries, Payslips & Reports, and a Business Directory. Additionally, NextPay has introduced Developer APIs to help businesses build custom workflows and integrate with their platform.

Impact and Reach

Since its inception, NextPay has served over 4,000 Filipino entrepreneurs and more than 200 MSMEs, processing finances amounting to PHP 630 million. As of now, the company has processed over PHP 7 billion worth of transactions for more than 4,200 active customers. This level of impact highlights the trust and reliance that local businesses place in NextPay's financial solutions.

Investors and Funding

NextPay is backed by several prominent investors, including Y Combinator, Gentree Fund, Golden Gate Ventures, Kickstart, 1982 Ventures, and Broadhaven. These partnerships have provided significant support and credibility to the company, enabling it to expand its services and reach more businesses in the region.

Core Values of NextPay

NextPay operates with a set of core values that guide its mission and business practices. These values include Customer Centricity, Collaboration, Product-driven approach, Constant Growth, Transparency & Authenticity, and Psychological Safety. These principles reflect the company's commitment to providing excellent service and cultivating a positive and innovative work environment.

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