Respaid provides an AI-driven accounts receivable solution to recover overdue invoices through multi-channel, automated outreach. The platform handles communication, dispute resolution, and payment tracking while respecting client relationships and internal policies. This service ensures high collection rates with a success-based pricing model, requiring no upfront licensing fees.
Funding
$3.2M 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.
LDMVFounders
Product
Problem
Many businesses struggle with recovering revenue from unpaid invoices, with traditional collection methods often proving ineffective and potentially damaging to customer relationships. Sending multiple notices without legal escalation often leads to debtors ignoring the requests, resulting in lost revenue.
Solution
Respaid offers an AI-powered solution for B2B collections that aims to recover a significant portion of unpaid invoices while maintaining a respectful approach to debtors. By partnering with law firms, Respaid leverages the authority of a legal voice without resorting to aggressive collection tactics. The platform uses AI to tailor bespoke messages to each debtor, optimizing the timing, content, and channel to maximize conversion rates. Respaid also incorporates data cleaning and enrichment to ensure high deliverability and accurate contact information.
Target Audience
Respaid primarily targets B2B companies, ranging from startups to larger enterprises, that are seeking a more effective and brand-sensitive approach to recovering unpaid invoices.
Features
- AI-powered messaging that adapts to individual debtor behavior and communication preferences
- Partnership with law firms to provide a credible and authoritative voice
- Data cleaning and enrichment to improve contact deliverability
- Direct payment processing to increase trust and conversion rates
- Integration with accounting software and other popular platforms via API and +6000 integrations
- Dashboard summarizing reasons for non-payment to improve product and service offerings
- SOC-2 compliant data handling to ensure security and privacy