What Forpay does

Forpay is a Chilean SaaS company founded in 2021 that operates a unified payment collection and recovery platform branded as "Recaudanza." The platform automates the full lifecycle of recurring payment collection for Chilean businesses — from client enrollment via the proprietary Magic Link (60-second onboarding), through mandate creation using Chile's native PAC account-to-account rail and Clave Única digital identity, automated recurring charges, proactive email and WhatsApp reminders, intelligent retries on failed payments, and real-time reconciliation with ERP/CRM systems. Forpay targets businesses across real estate, education, financial services (insurance and credit), NGOs, proptechs, and other SMB verticals, claiming a 1.67% delinquency rate against a 5-7% Chilean industry average and 75% operational cost savings versus manual collection.

The platform is built on a hexagonal (ports and adapters) architecture that enables new payment methods — cards, PAC, bank accounts (Vista, Cuenta RUT, Corriente), and digital wallets — to be integrated in days rather than months. An intelligent retry engine is trained on more than 400,000 transactions, and the company holds ISO 27001 certification and operates under PCI Compliance with certified providers. Forpay monetizes on a transaction-fee basis as a non-fund-holding Payment Services Entity (empresa de servicios de pago), combining a self-serve PLG motion for SMBs with a sales-assisted enterprise motion and an API-first channel (ForDevs) for mid-market integration. The company is privately held as FORPAY SPA, headquartered in Santiago, and operates exclusively in the domestic Chilean market.

Name

Forpay

Legal name

FORPAY SPA

Website

https://forpay.cl

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Forpay is a Chilean SaaS platform that automates end-to-end recurring payment collection and recovery for businesses across real estate, education, financial services, NGOs, and proptechs in Chile, combining native PAC and Clave Única integration with PCI and ISO 27001 compliance.

Ownership category

akta.pro rank

Product category

Payment Collection Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Collection Agencies (561440)

SIC

Finance Services (6199), Services-Prepackaged Software (7372)

akta.pro primary industry

Recurring Billing & AutoPay Management (FSAMAJAE)

akta.pro secondary industries

Bill Pay, Invoicing & Payables Platforms (BPAMAFAF), A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)

Keywords

• Recurring payment platform
• Automated collections software
• Payment orchestration SaaS
• Accounts receivable automation
• Chilean payment processing

Headquarters

HQ city

Santiago

HQ country

Chile

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Transaction-based recurring payments: Forpay earns revenue per transaction processed through its automated collection platform. The company acts as a PST (empresa de servicios de pago) that does not hold funds, processing payments via card (debit/credit), PAC with Clave Única, and bank accounts (Vista, RUT, Corriente). The platform's 90-second integration and 1.67% delinquency rate drive transaction volume growth across its customer base of 180+ organizations.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Forpay is a Chilean SaaS platform that automates recurring payment collection and recovery (recaudación and cobranza) for businesses. It unifies the entire payment lifecycle — client enrollment via Magic Link, mandate creation with PAC and Clave Única, automatic recurring charges, proactive reminders (email/WhatsApp), intelligent retries on failed payments, and real-time ERP/CRM reconciliation — into a single integrated system serving real estate, education, financial services, and NGO verticals.

Product overview

Forpay is a unified SaaS platform built around the Recaudanza concept — an end-to-end payment collection and recovery system combining signature, automatic collection, payment portals, DTE issuance, and AI-assisted collection management. The platform consists of the core Recaudanza system with integrated features including Magic Link for fast enrollement, native PAC with Clave Única for account-to-account payments, automatic card collection with intelligent retries, digital signature for contracts and promissory notes, real-time dashboards and reporting, DTE electronic document issuance, and the ForDevs API developer platform. All modules operate as a single integrated system on a hexagonal architecture enabling rapid adaptation to new payment methods.

Differentiator

Problem solved

Functional benefit

Brands

• Recaudanza: The brand concept that unites collection (recaudación) and collection management (cobranza) in a single end-to-end process. Recaudanza is described as synonymous with Forpay - the complete process from start to finish of payment collection.

Products and services

• Recaudanza Platform The core unified SaaS platform combining collection (recaudación) and recovery (cobranza) into a single end-to-end process. Designed for Chilean businesses needing automated recurring payment collection with reduced delinquency.
• ForDevs API Platform Developer-facing API platform that enables mid-market and enterprise customers to integrate Forpay's Recaudanza capabilities with their existing ERP, CRM, or accounting systems without requiring a dedicated technical team.

Quantifiable outcome

• Delinquency rate reduced to 1.67% vs. 5-7% industry average in Chile
• +4 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability4 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core.

• Banks and Financial InstitutionscoreTechnology or IntegrationForpay operates alongside banks and financial institutions as part of Chile's payment ecosystem, enabling PAC (Pago Automático de Cuentas) processing through account-to-account transfers. Specific bank names are not disclosed — only generic references to 'bancos chilenos' appear in the source.
• Card Acquirers and Payment ProcessorscoreTechnology or IntegrationForpay integrates with card networks and acquiring banks to process debit and credit card recurring payments. Operates under PCI Compliance standards with certified providers. Specific acquirer names are not named in the source.
• Clave ÚnicacoreTechnology or IntegrationNative integration with Chile's Clave Única digital identity system, enabling secure mandate creation and card enrollment directly within the Forpay platform. Clave Única is Chile's government-issued digital identity system.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/66458170

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds3 records

Investors

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 Forpay