Payra, a B2B payments and accounts receivable automation platform, has raised a growth equity investment of $15 million from Edison Partners.
Payra helps construction and building supplier companies modernize cash collection without replacing existing ERP systems. The company’s software integrates directly with accounting systems such as Trimble Viewpoint, Foundation, Sage, and Netsuite, using AI-enabled technology rather than requiring customers to rip and replace existing systems.
By embedding into established ERPs, Payra enables businesses to accept ACH, card, and other forms of digital payment, and to automate cash application and reconciliation, inside systems that often lack modern APIs.
The company serves construction suppliers, concrete producers, lumber yards, HVAC distributors, and other industrial businesses that generate millions in annual revenue but still rely on paper invoices, checks, spreadsheets, and manual reconciliation to manage receivables.
“These businesses are the backbone of the economy, but they’ve largely been left behind by modern fintech,” said Riley Lovingood, CEO and co-founder of Payra. “They don’t want to rip out their ERPs, they want faster cash flow, fewer past-due invoices, and less manual work. With Edison’s shared ethos for supporting America’s businesses and its expertise in payments and accounts receivables, we’re excited to scale efficiently and with focus.”
Payra says customers have achieved 20% reductions in days sales outstanding (DSO), 75% decrease in past-due invoices and significant time savings through automated cash application. The company has expanded to a revenue run rate exceeding $10 million within 15 months of launch, driven by demand from family-owned and regional businesses across the U.S. heartland.
“We’ve watched this category evolve for more than 20 years,” said Chris Sugden, managing partner at Edison Partners. “Payra represents the next generation of AR automation. It is the only AI-enabled software that meets traditional businesses where they are and helps them to modernize and drive ROI within their existing tech stack.”
The growth capital will be used to expand Payra’s product capabilities, deepen ERP integration partnerships, and scale go-to-market efforts across construction and industrial verticals.
Payra joins Edison Partners’ portfolio of companies including Billtrust, K1x, Solutions By Text (SBT), Dash Solutions, Fingercheck and Zelis.