Payr

Ever wanted to pay rent using your credit card?

The first thing to crack when raising investor money is to make a convincing pitch deck and PitchBuilder have certainly cracked it.

We’re sure that we pass on some great startups that just don’t hit the mark in their deck (and we aren’t even investors!)

PitchBuilder works with start-up & growth stage founders who either don't have a pitch deck, or have one that isn't performing.

Lead by Jay Dickieson, an ex strategy consultant delivering board-level strategy projects for global brands like Tesco, Sainsbury’s and AT&T. Jay now spends his time building killer pitch decks that impress investors and help founders raise funding.

With a £600 million raised track record, if your deck isn’t performing this might be a no brainer of an investment to make.

Lucky for you, quick pitch has got our readers a discount of £150+vat on their Gold Pitch Deck Creation Package.

Meet the founders

  • Cofounder and CEO, Arthur Greenwood: Ex IE business school and Cofounder of Rentago Labs.

  • Cofounder and Head of Technology, Sami Hassan: LSE MSc and Cofounder of Rentago Labs.

  • Cofounder & Head of Operations, Payments and Compliance, Mohy Dean Jishi: Ex PwC and KPMG and COO at Rentago Labs.

  • Co-Founder & Head of Finance, Victor della Faille: Ex McKinsey & Company and Cofounder of Rentago Labs.

The Market

  • Rent is for the majority of tenants, their biggest monthly expense totalling £122bn in rents payments in the UK in 2023.

  • However, agents don’t accept card payments for rent, meaning tenants need to use other types of credit (payday loans and overdraft) to pay.

This startup is solving two key problems:

  • Agents do not have the necessary infrastructure in place to accept card payments at a competitive rate and because of the Tenants Act (2019) they’re unable to pass on fees to tenants.

  • 1 in 3 tenants borrowed money to pay their rent last month.

Founder-market fit:

Agent-side: Already built a successful online lettings agency together (Rentago Labs)

Consumer-side: Struggled to find ways to pay rent in London first hand and experienced being burdened with lengthy payment settlements and high FX fees.

Payr allows tenants to pay their rent by card providing access to credit facilities via existing card providers, earn points and maximise cash flow all while landlords earn the same rent with no extra fees to pay.

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Quickfire

Headquarters

London

Employee count

4

Business model

B2B2C

Backed by 

NeoTerra Capital, Micheal Hatfield (Angel investor with $7B+ exit)

Funding amount

£250,000 committed

Raising £1.5 million

Traction Metrics: 

  • Processed £1.25M+ in rent since launch (July 19th 2024)

  • 35%+ average MoM GTV growth

  • Converted over 50% of our pre-launch sign up list

  • Strategic partnership with GoodLord (The UK’s leading lettings platform that works with 1500+ lettings agents)

Competition

  • Bilt, offers rewards on rent - 500k users, a co-branded Wells Fargo credit card.

    • 85%+ of Bilt’s 500k users pay using their own cards at a 3% fee instead of opting for the Bilt card (backing Payr’s thesis)

Our take

APPEALS

  • Payments with existing cards: Results in lower consumer fees and reduces onboarding from weeks to minutes.  

  • Tenant-centric platform: Landlord/agent-independent, avoiding fees and sign ups on either side which cause friction as agents/landlords do not want to sign up or pay for a service that does not directly benefit them.

  • Commercial property payments: Market advantage to competitors.

RISKS

  • UK Regulation & Compliance: A service that potentially increases tenant costs through credit card interest or fees and other associated payment related risks might face scrutiny from regulators or consumer protection groups.

  • Dependence on card networks: Payr’s advantage is their lower consumer fees however they have no control if card networks like Amex increase their fees.

  • Market adoption: Having converted >50% of their pre-launch signups, Payr plan to allocate >30% of their funding to be spent acquiring more customers through marketing spend.

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Quick Pitch’s First Event!

  • We’re partnering with The Graduate Guide and Grads Building Companies alongside Peter Wood to host our first investor-founder dinner in March 🤝

  • We’re bringing together the most promising young founders for an exclusive dinner—designed to connect them with early stage investors who can help them scale. With a community of 20,000 ambitious young founders building the next generation of UK startups, they’ve already got the recognition from the likes of Google and other leading brands.

  • Let us know here if you’d like to come, partner with us for the event, or have a space we can use.

Let the people decide

How Likely will Payr succeed? 1-10 scale

Tell us why in the comments

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Last feature’s results

  • The people have spoken: Our readers were BULLISH on RAD Propulsion Vote in the poll above to see how your decision stacks up against thousands of founders, investors and operators.

  • Here’s what you guys had to say: Huge industry potential, led by highly experienced people and already backed by a solid group of VC’s.

Written by Luke & Seb