PayTraq.com
PayTraq is a Latvia-based cloud SaaS platform that delivers integrated accounting, sales, purchasing, warehousing, and inventory management for small and medium-sized businesses and the accountants who serve them, sold via monthly subscriptions starting at 20 EUR and distributed through a Baltic accounting partner network.
- Company typePrivate
- Founded2014
- HeadquartersMarupe, Latvia
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What PayTraq.com does
PayTraq, operated by PayTraq SIA (Latvia, registration 40103794975), is a cloud-based SaaS business management suite that combines online accounting, sales, purchasing, warehousing, money management, and reporting in a single integrated platform. The product is built for small and medium-sized businesses and for the accountants and bookkeepers who serve them, with functional depth that includes double-entry accounting, multi-currency bank/merchant/card/cash accounts, FIFO and Weighted Average inventory costing, lot tracking, periodic or perpetual inventory systems, bank feeds and reconciliation (Open Banking, PayPal, Paysera), prepaid and deferred revenue allocation, recurring invoicing, and country-specific VAT/tax key configurations covering Global, Bulgaria, Estonia, Latvia, Lithuania, and Slovakia. Underlying infrastructure runs on AWS with MongoDB Atlas for data storage, Postmark for transactional email, and Groove Networks for customer support; a mobile application is published on iOS and Android, and a public API is documented. Data is stored in EU data centers under a GDPR-compliant data processor framework.
PayTraq monetizes through tiered monthly or annual subscription licenses starting from 20 EUR/month, with a 14-day free trial that requires no credit card, reflecting a product-led growth motion aimed at SMB self-signup. Go-to-market combines direct web-based distribution (paytraq.com, country sites for Estonia, Latvia, and Lithuania, and a go.paytraq.com signup flow) with a curated channel partner network of at least nine outsourced accounting and bookkeeping firms across the Baltic states. The company also invests in content and education, operating a 130+ article help desk, an interactive product tour, and the PayTraq U accounting education portal, which together serve as top-of-funnel acquisition assets for both business owners and accounting professionals.
The company was founded in 2014, is headquartered in the Riga/Marupe area of Latvia, operates with 1-10 employees, and shows no disclosed external funding, parent company, or acquisitions, suggesting a bootstrapped operating model. Co-founder and CTO Oleg Golitsin is the named leadership figure in the available data; the rest of the management team is not disclosed. Compliance posture centers on GDPR, EU data residency, 256-bit SSL encryption, and unlimited data storage, and the product is targeted at the European SMB accounting market rather than the global enterprise segment.
PayTraq.com firmographics
Firmographics- Name
- PayTraq.com
- Legal name
- PayTraq SIA
- Website
- https://paytraq.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- PayTraq is a Latvia-based cloud SaaS platform that delivers integrated accounting, sales, purchasing, warehousing, and inventory management for small and medium-sized businesses and the accountants who serve them, sold via monthly subscriptions starting at 20 EUR and distributed through a Baltic accounting partner network.
- Ownership category
- akta.pro rank
PayTraq.com industry classification
Industry- Product category
- Cloud Accounting Software
- NAICS
- Payroll Services (541214)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- Bill Pay, Invoicing & Payables Platforms (BPAMAFAF)
- akta.pro secondary industry
- Recurring Billing, Subscriptions & Tokenized Payments (CRAFALAH)
Keywords
Where PayTraq.com is headquartered
LocationHeadquarters
- HQ city
- Marupe
- HQ country
- Latvia
- HQ region
- Europe
Offices1 record
Markets served
PayTraq.com business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations
Revenue model
- Subscription Licensing: Monthly or annual subscription-based licensing model with tiered pricing. The Provider grants non-exclusive, fixed-term licenses for use of the cloud-based service.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Standard subscription starting price |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
PayTraq.com product offering
Product offeringCore offering
PayTraq provides a cloud-based all-in-one business management suite for small and medium-sized businesses, integrating online accounting, invoicing, billing, purchasing, warehousing, inventory management, and financial reporting in a single platform. The service includes multi-currency accounts, bank feed reconciliation (Open Banking, PayPal, Paysera), country-specific tax configurations for EU and Baltic markets, and supports both FIFO and weighted average inventory costing. Offered on a monthly subscription basis starting from 20 EUR/month with a 14-day free trial.
Product overview
PayTraq is a single cloud-based business management suite for small and medium-sized businesses, combining accounting software, inventory management, and business operations tools. The core PayTraq platform provides full automation of sales, purchasing, warehousing, and accounting, with supporting modules including PayTraq Mobile (iOS/Android app for on-the-go access), PayTraq Help Desk (comprehensive knowledge base), and PayTraq U (accounting education resources). The system offers integrated features for Quotes, Sales Orders, Invoices, Credit Notes, Purchase Orders, multi-currency accounts, bank reconciliation, double-entry accounting, and real-time financial reporting.
Differentiator
Problem solved
Functional benefit
Products and services
- PayTraq Cloud Business Suite Cloud-based all-in-one business management platform for small and medium-sized businesses that combines online accounting, invoicing, billing, purchasing, warehousing, inventory management, money management, and reporting in a single integrated system with multi-currency support and country-specific tax configurations.
- PayTraq Mobile
Companies that use PayTraq.com
Customer profileSegments2 records
Ideal customer profiles2 records
PayTraq.com technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature8 records
PayTraq.com partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered minor and core.
- V&O Outsourcing & Consulting TÜminorEstonian accounting outsourcing and consulting firm. Located in Estonia. Contact: [email protected]. Part of PayTraq's accounting partner network helping businesses implement and use the platform.
- ASGL SIAminorLatvian cloud accounting firm. Contact: [email protected]. Member of PayTraq's accounting partner network providing bookkeeping services using the platform.
- Dzērves birojs SIAminorLatvian accounting firm. Contact: [email protected]. Partner providing accounting services with PayTraq.
- Fineleafe SIAminorLatvian accounting services provider. Contact: [email protected]. Partner in PayTraq's accounting network.
- Ludberks Finance SIAminorLatvian financial accounting firm. Contact: [email protected]. Partner offering PayTraq-based bookkeeping services.
- Olivea Accounting SIAminorLatvian accounting firm. Contact: [email protected]. Partner in the PayTraq accounting partner network.
- ProGP SIAminorLatvian accounting services provider. Contact: [email protected]. Partner helping businesses use PayTraq.
- SIMOSIS SIAminorLatvian accounting firm. Contact: [email protected]. Partner in PayTraq's accounting partner network.
- Demire UABminorLithuanian accounting firm. Contact: [email protected]. Partner providing PayTraq-based accounting services in Lithuania.
- Amazon Web ServicescoreCloud service and infrastructure provider. AWS hosts PayTraq's cloud infrastructure providing scalable computing resources and data center capabilities.
- MongoDBcoreCloud database provider used to store certain customer data. MongoDB Atlas provides the database infrastructure for PayTraq's data storage.
Recent moves6 records
Expansion highlights4 records
PayTraq.com competitors and assessment
Company assessmentDirect peers
- FreshBooks: Cloud invoicing and accounting platform aimed at SMBs and freelancers with recurring billing and multi-currency support. Closely comparable on invoicing-first SMB positioning.
- Xero: Global cloud accounting SaaS for SMBs offering invoicing, bank reconciliation, multi-currency, and an accountant ecosystem. Most direct comparable in product and GTM, though at vastly larger scale.
- Wave Accounting: Free/freemium cloud accounting, invoicing, and receipt-scanning product for SMBs. Direct competitor on the entry-level online invoicing + accounting use case.
- e-conomic: Nordic cloud accounting/invoicing platform owned by Visma, deeply localised for Denmark and surrounding markets. Comparable all-in-one SMB accounting product in a nearby regional context.
- Manager.io: Cloud/desktop accounting software with invoicing, inventory, multi-currency, and free edition tier. Comparable SMB-targeted accounting/inventory suite with similar entry-level pricing dynamics.
Broad incumbents
- QuickBooks Online: Intuit's flagship cloud accounting/invoicing platform for SMBs and accountants. Overlaps PayTraq's invoicing, reconciliation, and bookkeeper workflows as part of Intuit's broader financial software portfolio.
- Sage Business Cloud Accounting: Sage's cloud accounting offering for SMBs with invoicing, VAT reporting, and accountant collaboration. Larger, broader portfolio competitor with established EU footprint overlapping PayTraq's market.
Peers
- Zoho Books: Cloud accounting/invoicing module within Zoho's broader SMB app suite. Comparable integrated feature set for SMBs, similar multi-currency and VAT handling, though bundled into a much larger software portfolio.
Regional players
- Dinero: Danish cloud accounting and invoicing platform for SMBs and accountants. Comparable SMB/accountant positioning and integrated invoicing-to-accounting workflow in a Nordic market.
- Billy Accounting: Danish cloud accounting and invoicing SaaS for SMBs with bank integrations. Closely comparable product surface in a regional Nordic market adjacent to PayTraq's Baltic footprint.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
PayTraq.com social profiles
Digital presencePayTraq.com compliance and trust
Trust signalCompliance1 record
PayTraq.com financial estimates
Financial estimateRevenue estimate
Valuation estimate
PayTraq.com leadership team
Management profileNumber of profiles
Profiles1 record
PayTraq.com funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PayTraq.com M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PayTraq.com
What does PayTraq.com do?
PayTraq provides a cloud-based all-in-one business management suite for small and medium-sized businesses, integrating online accounting, invoicing, billing, purchasing, warehousing, inventory management, and financial reporting in a single platform. The service includes multi-currency accounts, bank feed reconciliation (Open Banking, PayPal, Paysera), country-specific tax configurations for EU and Baltic markets, and supports both FIFO and weighted average inventory costing. Offered on a monthly subscription basis starting from 20 EUR/month with a 14-day free trial.
Is PayTraq.com a public or private company?
PayTraq.com is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was PayTraq.com founded?
PayTraq.com was founded in 2014. It employs 1 to 10 people.
Where is PayTraq.com based?
PayTraq.com is headquartered in Marupe, Latvia, in the Europe region.
How does PayTraq.com make money?
One revenue line is on record: subscription Licensing.
Who are PayTraq.com's main competitors?
Direct peers on record are FreshBooks, Xero, Wave Accounting, e-conomic and Manager.io. Broad incumbents are QuickBooks Online and Sage Business Cloud Accounting. Zoho Books is listed as a peer. Regional players are Dinero and Billy Accounting.
Does PayTraq.com have an API?
Yes. PayTraq.com exposes a public API. Developer documentation is at paytraq.com/api.
What industry is PayTraq.com in?
PayTraq.com's product category is Cloud Accounting Software. Its primary akta.pro industry code is BPAMAFAF, Bill Pay, Invoicing & Payables Platforms, with a secondary code of CRAFALAH, Recurring Billing, Subscriptions & Tokenized Payments. Its NAICS code is 541214 and its SIC code is 7372.