coil

About coil

Coil provides a platform for businesses to collect bank payments directly, eliminating credit card processing fees and minimizing customer churn. By facilitating ACH transactions, Coil enables companies to retain more revenue and improve cash flow stability.

<problem> Businesses face significant costs and customer attrition due to credit card processing fees. Traditional payment methods can also lead to unstable cash flow and reduced revenue retention. </problem> <solution> Coil offers a platform that enables businesses to directly collect bank payments from customers, bypassing credit card networks and their associated fees. By leveraging Automated Clearing House (ACH) transactions, Coil allows companies to retain a larger portion of their revenue. This direct payment method also reduces customer churn by providing a more seamless and reliable payment experience. The platform improves cash flow stability by minimizing transaction costs and ensuring timely payments. </solution> <features> - Direct bank payment processing via ACH - Automated payment scheduling and reminders - Real-time transaction monitoring and reporting - Integration with accounting software - Secure data encryption and compliance </features> <target_audience> Coil primarily targets businesses of all sizes that seek to reduce payment processing costs and improve customer retention through direct bank payments. </target_audience>

What does coil do?

Coil provides a platform for businesses to collect bank payments directly, eliminating credit card processing fees and minimizing customer churn. By facilitating ACH transactions, Coil enables companies to retain more revenue and improve cash flow stability.

Where is coil located?

coil is based in San Francisco, United States.

When was coil founded?

coil was founded in 2022.

How much funding has coil raised?

coil has raised 500000.

Location
San Francisco, United States
Founded
2022
Funding
500000
Employees
1 employees
Major Investors
Y Combinator
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coil

Score: 100/100
AI-Generated Company Overview (experimental) – could contain errors

Executive Summary

Coil provides a platform for businesses to collect bank payments directly, eliminating credit card processing fees and minimizing customer churn. By facilitating ACH transactions, Coil enables companies to retain more revenue and improve cash flow stability.

trycoil.com300+
cb
Crunchbase
Founded 2022 – San Francisco, United States

Funding

$

Estimated Funding

$500K+

Major Investors

Y Combinator

Team (<5)

Tonje Bakang Tonje

Building Moots, the AI-powered contact app for dealmakers

Company Description

Problem

Businesses face significant costs and customer attrition due to credit card processing fees. Traditional payment methods can also lead to unstable cash flow and reduced revenue retention.

Solution

Coil offers a platform that enables businesses to directly collect bank payments from customers, bypassing credit card networks and their associated fees. By leveraging Automated Clearing House (ACH) transactions, Coil allows companies to retain a larger portion of their revenue. This direct payment method also reduces customer churn by providing a more seamless and reliable payment experience. The platform improves cash flow stability by minimizing transaction costs and ensuring timely payments.

Features

Direct bank payment processing via ACH

Automated payment scheduling and reminders

Real-time transaction monitoring and reporting

Integration with accounting software

Secure data encryption and compliance

Target Audience

Coil primarily targets businesses of all sizes that seek to reduce payment processing costs and improve customer retention through direct bank payments.