The startup offers a fintech platform that automates payment processing and invoicing for freelancers and small to medium-sized enterprises (SMEs). By integrating with various businesses, it streamlines financial tasks, allowing users to focus on their core work while enhancing their income potential.
Funding
$13M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Freelancers, property agents, and SMEs often face challenges with delayed payments and inefficient invoicing processes, leading to cash flow bottlenecks and administrative overhead. Traditional financial systems can be slow and cumbersome, hindering their ability to manage income effectively and focus on core business activities.
Solution
Lyte provides a financial platform designed to streamline payment processing and invoicing, offering solutions tailored for freelancers, property agents, and SMEs. The platform enables users to advance commissions and receive payments within 1-5 business days, automate invoice creation and reminders, and track payments in real-time. By integrating with various agencies and businesses, Lyte facilitates early access to earnings and simplifies financial management, allowing users to optimize their cash flow and reduce administrative burdens. Lyte operates as a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS).
Target Audience
Lyte primarily targets freelancers, property agents, and small to medium-sized enterprises (SMEs) seeking to streamline payment processes, improve cash flow management, and reduce administrative overhead.
Features
- Commission Advance: Enables property agents to receive commissions within 1-5 business days for a one-time flat fee.
- Automated Invoicing: Allows freelancers to create and send professional invoices, automate payment reminders, and track payments in real-time.
- Payment Tracking: Provides real-time tracking of invoices and payments.
- Integration with Agencies: Works directly with property agencies to automate commission advances and repayments.
- Business Payment Solution: Allows businesses to pay freelancers upfront with flexible repayment terms up to 270 days.
- Compliance: Operates as a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS), adhering to regulatory standards.