The startup offers a payments app that enables users to make contactless transactions through NFC technology, allowing them to tap, pay, and donate seamlessly to businesses and charities. This platform facilitates instant payments and donations, providing users with the flexibility to transact anytime and anywhere.
Funding
$1M 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
Many businesses, particularly small and medium-sized enterprises (SMEs), face challenges in efficiently managing their accounts payable and accounts receivable processes, leading to time-consuming manual reconciliation, delayed payments, and reduced cash flow visibility. Traditional payment methods often involve manual data entry, increasing the risk of errors and making it difficult to track transactions in real-time.
Solution
Xelda provides a pre-accounting automation and payments platform designed to streamline financial operations for businesses. The platform enables users to automate invoice processing, bulk pay invoices and salaries, and reconcile payments with accounting software. By connecting to over 5000 banks, Xelda facilitates instant payments via card and direct debit with ultra-low fees. The system automates reconciliation, offers real-time cash visibility, and allows users to create custom financial workflows with rule-based approval flows and notifications.
Target Audience
Xelda primarily targets small to medium-sized businesses (SMBs) looking to streamline their accounts payable and receivable processes, automate financial workflows, and improve cash flow management.
Features
- Automated reconciliation of payments with real-time updates
- Cash visibility through connected bank accounts and automatic transaction categorization
- Customizable workflow automation with rule-based approval flows and notifications via email, text, or Slack
- Bulk payment processing for invoices and salaries, eliminating single authorizations and SEPA files
- Integration with over 10 accounting software packages, as well as Outlook and Gmail for invoice and statement retrieval
- Support for card and direct debit payments with no manual entry of IBAN, reference, payee, or amount
- Embeddable payment links on invoices with custom branding options
- Donation and tipping app