What Volopay does

Volopay is a Singapore-headquartered spend management fintech that provides an integrated platform combining corporate cards (physical, virtual, and prepaid VISA), multi-currency business accounts, expense management, accounts payable automation, and procurement software for businesses ranging from startups to enterprises. The platform's underlying technology centers on a cloud-native architecture with proprietary Magic Scan OCR for invoice and receipt capture, AI-powered receipt-to-transaction matching with duplicate detection, NLP-based smart memo generation, and configurable multi-level approval workflows supporting up to five levels of approvers, all unified through native integrations with leading accounting systems (Xero, QuickBooks, NetSuite, Zoho Books, MYOB, Tally, Deskera). The company employs approximately 150 people across five countries and operates across Singapore, Australia, India, the UK, Canada, and the US, with stated APAC and MENA expansion targets and cross-border payment corridors reaching 130-180 countries via SWIFT and non-SWIFT rails. Volopay monetizes through tiered subscription pricing scaled to monthly spend, transaction-based FX margins on multi-currency payments, payment processing fees for vendor payouts, bulk payments, and international transfers, supplemented by a 12-month free trial to drive top-of-funnel adoption. The company sells through a hybrid GTM combining self-serve onboarding for startups and SMBs with a demo-led enterprise field sales motion targeting complex multi-entity finance teams, and is Y Combinator-backed following a $29 million Series A in March 2022 led by JAM Fund.

Name

Volopay

Legal name

Volopay

Website

https://volopay.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

101–250 employees

Short description

Volopay is a Singapore-based spend management fintech that combines corporate cards, multi-currency accounts, expense management, accounts payable, and procurement software into one platform, serving startups through enterprises across APAC, the UK, Canada, and the US.

Ownership category

akta.pro rank

Product category

Corporate Spend Management Software

NAICS

Credit Card Issuing (522210), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Core ERP Suites (Financials, Procurement, Projects) (HDAEAEAA)

Keywords

• Corporate spend management
• Expense management software
• Accounts payable automation
• Business payment solutions
• Procurement management software

Headquarters

HQ city

Midview City

HQ country

Singapore

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Subscription/Platform Fees: Tiered pricing based on monthly spend with 12-month free trial offers. Revenue from subscription tiers for access to corporate cards, expense management, accounts payable, and procurement features.
2. Foreign Exchange (FX) Margins: Revenue generated from FX spreads on multi-currency transactions. The platform offers competitive exchange rates and charges margins on cross-border payments.
3. Payment Processing Fees: Transaction fees for vendor payouts, bulk payments, international transfers, and other payment processing services.
4. Multi-currency Wallet Services: Revenue from holding and managing multiple currencies with competitive exchange rates for international business payments.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

Volopay is a unified corporate spend management platform that combines corporate cards (physical and virtual), expense management, accounts payable automation, procurement software, and multi-currency business accounts into a single offering for businesses ranging from startups to enterprises.

Product overview

Volopay is a unified spend management platform designed for startups to enterprises, combining corporate cards, expense management, accounts payable automation, procurement software, and multi-currency business accounts into a single integrated solution. The platform architecture consists of core financial infrastructure products (Corporate Cards, Virtual Cards, Prepaid Business Cards, Global Business Account, Business Accounts, Money Transfer) that connect to expense management and accounts payable modules (Expense Management, Subscription Management, Employee Reimbursement, Budgeting, Accounts Payable, Vendor Payments, Invoice Management, Bulk Payment, Payroll Payment) and procurement tools (Procurement, Intake to Procure, Procure-to-Pay, Strategic Sourcing). These are unified through a shared platform layer featuring ERP Integration, Reporting, Approval Workflows, Vendor Management, Accounting Automation, Multi Entity management, and a Mobile App. All components share a common data architecture with native integrations to accounting systems (Xero, QuickBooks, NetSuite, Zoho Books, MYOB, Tally, Deskera).

Differentiator

Problem solved

Functional benefit

Products and services

• Corporate Cards Physical corporate charge cards issued to businesses for employee spending and company expenses.
• Virtual Cards Digital-only corporate cards for online purchases, subscription management, and controlled digital spending.
• Prepaid Business Cards Prepaid corporate cards for businesses to control budgets and pre-load funds for employee spending.
• Global Business Account Multi-currency business account for receiving payments and managing funds across international markets.
• Business Accounts Standard business accounts for managing company funds, transactions, and treasury operations.
• Money Transfer International and domestic money transfer service for businesses, supporting multiple currencies.
• Procurement Procurement software module enabling purchase request intake, vendor sourcing, and procure-to-pay workflows for businesses.
• Accounts Payable Accounts payable automation covering vendor payments, invoice management, bulk payment runs, and payroll disbursements.
• Expense Management Expense management module covering employee reimbursements, corporate card transactions, subscription management, and departmental budgeting.

Quantifiable outcome

• Close books 10x faster through automated accounting sync
• +3 more outcomes

Named customers18 records

Segments9 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability6 records

Feature8 records

Partnerships

Five partnerships are on record, tiered core and supporting.

• XerocoreTechnology or IntegrationNative integration with Xero accounting software. Transaction data syncs automatically, keeping books up to date with periodic automated syncing.
• QuickBookscoreTechnology or IntegrationNative integration with QuickBooks. Seamless connection enabling automated expense categorization and accounting sync.
• NetSuitecoreTechnology or IntegrationNative integration with Oracle NetSuite ERP. Direct sync of transaction data for comprehensive financial management.
• Zoho BookssupportingTechnology or IntegrationIntegration with Zoho Books for accounting automation and expense synchronization.
• MYOBsupportingTechnology or IntegrationIntegration with MYOB accounting software popular in Australia and New Zealand markets.

Scale indicators6 records

Recent moves2 records

Expansion highlights6 records

Direct peers

• Brex: US-headquartered spend management platform issuing corporate cards and offering expense, bill pay, and travel. Directly comparable to Volopay in core cards + AP offering, with significantly larger scale and recent global expansion.
• Ramp: Corporate card and spend management platform with automated AP, vendor management, and procurement tooling. Closest direct competitor to Volopay's unified spend management thesis in the US market.
• Airwallex: APAC-founded cross-border payments and multi-currency business account provider with corporate cards and expense management. Highly comparable to Volopay on global accounts, FX, and B2B payments.
• Spendesk: Europe-based spend management platform combining corporate cards, expense management, and AP automation. Same all-in-one proposition as Volopay, primarily serving European SMBs and mid-market.
• Pleo: European corporate cards and expense management provider serving SMBs and mid-market. Same core cards-plus-expense proposition as Volopay's startup/SMB tier.

Broad incumbents

• Bill.com: Established US AP automation and bill pay platform serving SMBs and mid-market with accounting integrations. Comparable AP and vendor payment functionality but a much larger, public-company incumbent.
• Wise (TransferWise): Global multi-currency account and cross-border payments provider with business accounts. Directly comparable on multi-currency wallets and FX, though broader and more consumer-rooted.
• Tipalti: Global AP automation, supplier management, and cross-border payments platform. Comparable on AP automation, vendor payouts, and international payment capabilities to enterprise/mid-market.

Emerging players

• Aspire: Singapore-headquartered all-in-one corporate card and expense management platform for APAC SMBs. Closest emerging APAC-native peer to Volopay in target customer and product mix.
• Jeeves: Global corporate card and spend management platform for international businesses. Comparable cross-border cards and expense offering with overlapping multi-currency value proposition.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/volopay

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds5 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Volopay